Citigroup Boosts EnLink Midstream (NYSE:ENLC) Price Target to $16.00

EnLink Midstream (NYSE:ENLC) had its price target boosted by Citigroup from $13.00 to $16.00 in a research report report published on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the pipeline company’s stock.

A number of other research analysts have also recently weighed in on ENLC. UBS Group lifted their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a buy rating in a report on Thursday, January 18th. JPMorgan Chase & Co. cut their price objective on shares of EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a report on Thursday, February 29th. StockNews.com cut shares of EnLink Midstream from a buy rating to a hold rating in a report on Thursday, April 11th. Finally, Capital One Financial initiated coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They issued an overweight rating and a $15.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $14.63.

EnLink Midstream Trading Up 0.8 %

NYSE ENLC opened at $13.59 on Tuesday. The company has a market capitalization of $6.16 billion, a PE ratio of 30.89 and a beta of 2.39. The company has a fifty day moving average of $12.97 and a 200 day moving average of $12.61. EnLink Midstream has a 1 year low of $8.45 and a 1 year high of $14.18. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (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 company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Research analysts forecast that EnLink Midstream will post 0.6 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.132 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.89%. EnLink Midstream’s dividend payout ratio is currently 120.46%.

Insider Transactions at EnLink Midstream

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the sale, the chief financial officer now owns 534,000 shares of the company’s stock, valued at $6,450,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the business’s 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 transaction, the chief accounting officer now owns 58,410 shares in the company, valued at $719,611.20. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of ENLC. Headlands Technologies LLC acquired a new position in EnLink Midstream in the 4th quarter valued at about $27,000. National Bank of Canada FI acquired a new position in EnLink Midstream in the 3rd quarter valued at about $28,000. JNBA Financial Advisors acquired a new position in EnLink Midstream in the 4th quarter valued at about $30,000. Sunbelt Securities Inc. boosted its holdings in EnLink Midstream by 232.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock valued at $67,000 after purchasing an additional 3,837 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of EnLink Midstream by 198.8% in the 4th quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock worth $72,000 after acquiring an additional 3,965 shares during 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.