Analysts Set EnLink Midstream, LLC (NYSE:ENLC) PT at $15.40

EnLink Midstream, LLC (NYSE:ENLC) has been assigned an average recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $15.40.

Several equities analysts have issued reports on the company. Morgan Stanley lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research note on Monday, September 16th. StockNews.com initiated coverage on shares of EnLink Midstream in a research note on Tuesday, January 7th. They set a “hold” rating for the company. Mizuho restated a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, October 31st. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Monday, September 30th.

EnLink Midstream Price Performance

Shares of ENLC stock opened at $14.36 on Friday. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a fifty day simple moving average of $14.93 and a two-hundred day simple moving average of $14.33. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 68.38 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.16). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. On average, analysts predict that EnLink Midstream will post 0.51 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s payout ratio is 252.38%.

Insider Buying and Selling

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of EnLink Midstream by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after buying an additional 1,151 shares during the last quarter. Van ECK Associates Corp boosted its position in EnLink Midstream by 73.8% in the 2nd quarter. Van ECK Associates Corp now owns 63,465 shares of the pipeline company’s stock worth $873,000 after purchasing an additional 26,952 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of EnLink Midstream by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 1,586,315 shares of the pipeline company’s stock valued at $21,828,000 after purchasing an additional 10,296 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of EnLink Midstream by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock valued at $93,884,000 after purchasing an additional 133,327 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in EnLink Midstream by 64.4% during the second quarter. Hsbc Holdings PLC now owns 33,646 shares of the pipeline company’s stock worth $459,000 after buying an additional 13,183 shares in the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.