Revenue during the quarter dropped 4.02 percent to $620 million from $646 million in the previous year period. Gross margin for the quarter expanded 120 basis points over the previous year period to 56.77 percent.

Operating income for the quarter was $139 million, compared with an operating loss of $975 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $244 million compared with $222 million in the prior year period. At the same time, adjusted EBITDA margin improved 499 basis points in the quarter to 39.35 percent from 34.37 percent in the last year period.

"We are excited to announce a long-term, fee-based contract in the STACK," said Enable Midstream president and chief executive officer Rod Sailor. "This contract increases our fee-based cash flows and boosts our market-leading position in the STACK by increasing the amount of acreage dedicated to us and supporting further infrastructure build-out in this prolific play. "In addition, we had another quarter of solid performance and are firmly on track to achieve our 2016 objectives. Year-to-date, we have kept our debt-to-EBITDA ratio below 4.0x, maintained our coverage ratio above 1.0x and achieved significant cost reductions compared to the first nine months of 2015. "Our commercial successes as well as our cost management efforts and efficient capital deployment have positioned Enable well for 2017 and beyond."