EnLink Midstream (NYSE:ENLC) Upgraded by StockNews.com to “Buy”

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

A number of other brokerages also recently issued reports on ENLC. UBS Group upped their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a buy rating in a report on Thursday, January 18th. Capital One Financial began coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They issued an overweight rating and a $15.00 target price for the company. Citigroup increased their target price on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price target 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $14.63.

EnLink Midstream Price Performance

Shares of ENLC opened at $13.66 on Friday. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 31.03 and a beta of 2.39. The firm’s fifty day simple moving average is $13.01 and its 200-day simple moving average is $12.64. EnLink Midstream has a twelve month low of $8.45 and a twelve month high of $14.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. Equities analysts forecast that EnLink Midstream will post 0.6 EPS for the current fiscal year.

EnLink Midstream Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, April 26th will be given a $0.132 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 annualized dividend and a yield of 3.87%. EnLink Midstream’s dividend payout ratio (DPR) is 120.46%.

Insiders Place Their Bets

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total value of $616,000.00. Following the transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at $719,611.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 in the company, valued at $6,450,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value 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 disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EnLink Midstream

Several institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. lifted its stake in shares of EnLink Midstream by 11.0% in the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after acquiring an additional 4,200,733 shares during the period. Hodges Capital Management Inc. purchased a new position in EnLink Midstream during the third quarter worth about $3,246,000. UBS Group AG lifted its position in EnLink Midstream by 22.9% in the third quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock valued at $18,848,000 after purchasing an additional 287,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in EnLink Midstream in the 3rd quarter valued at approximately $1,337,000. Finally, Strategic Blueprint LLC acquired a new stake in shares of EnLink Midstream in the 4th quarter valued at approximately $126,000. 45.87% of the stock is 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.