EnLink Midstream (NYSE:ENLC) Raised to Buy at StockNews.com

StockNews.com upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a research report report published on Monday morning.

A number of other equities analysts have also recently commented on ENLC. Capital One Financial initiated coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They issued an overweight rating and a $15.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a research report on Thursday, February 29th. Finally, UBS Group increased their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a buy rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, EnLink Midstream currently has an average rating of Moderate Buy and an average price target of $14.43.

EnLink Midstream Stock Up 0.2 %

Shares of NYSE:ENLC opened at $13.35 on Monday. The firm has a market capitalization of $6.05 billion, a PE ratio of 30.34 and a beta of 2.39. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. EnLink Midstream has a 52-week low of $8.45 and a 52-week high of $13.98. The firm has a fifty day moving average of $12.39 and a 200 day moving average of $12.46.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. As a group, research analysts anticipate that EnLink Midstream will post 0.6 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Monday, January 29th were given a dividend of $0.1325 per share. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Friday, January 26th. EnLink Midstream’s payout ratio is currently 120.46%.

Insider Buying and Selling

In other news, CAO Jan Philipp Rossbach sold 50,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the sale, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the sale, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at $719,611.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the transaction, the chief financial officer now owns 534,000 shares of the company’s stock, valued at $6,450,720. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of EnLink Midstream during the 4th quarter valued at $27,000. National Bank of Canada FI acquired a new position in shares of EnLink Midstream in the 3rd quarter valued at $28,000. Comerica Bank purchased a new position in EnLink Midstream in the 2nd quarter worth about $250,000. JNBA Financial Advisors acquired a new stake in EnLink Midstream during the 4th quarter worth about $30,000. Finally, Sunbelt Securities Inc. lifted its stake in EnLink Midstream by 232.4% during the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock valued at $67,000 after buying an additional 3,837 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

About EnLink Midstream

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.