EnLink Midstream (NYSE:ENLC) Rating Increased to Hold at Mizuho

Mizuho upgraded shares of EnLink Midstream (NYSE:ENLC) to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

ENLC has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a report on Monday, September 16th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Monday, September 30th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, EnLink Midstream currently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Performance

Shares of NYSE:ENLC opened at $14.70 on Wednesday. The company’s 50 day moving average price is $14.51 and its two-hundred day moving average price is $13.73. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $14.96. The firm has a market cap of $6.78 billion, a PE ratio of 49.00 and a beta of 2.40. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the company earned $0.12 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts predict that EnLink Midstream will post 0.58 earnings per share for the current year.

EnLink Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, November 1st. EnLink Midstream’s payout ratio is currently 176.67%.

Insider Transactions at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EnLink Midstream

Large investors have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC lifted its position in shares of EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after purchasing an additional 1,141,254 shares in the last quarter. Van ECK Associates Corp grew its stake in EnLink Midstream by 100.8% in the 3rd quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock worth $1,883,000 after buying an additional 63,997 shares in the last quarter. Inscription Capital LLC purchased a new position in EnLink Midstream in the 3rd quarter worth approximately $154,000. Insight Folios Inc lifted its holdings in shares of EnLink Midstream by 16.3% in the 3rd quarter. Insight Folios Inc now owns 25,077 shares of the pipeline company’s stock worth $364,000 after acquiring an additional 3,510 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of EnLink Midstream by 13.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,090 shares of the pipeline company’s stock valued at $233,000 after purchasing an additional 1,958 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.