EnLink Midstream (NYSE:ENLC) Rating Lowered to “Hold” at US Capital Advisors

US Capital Advisors downgraded shares of EnLink Midstream (NYSE:ENLC) from a moderate buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.50 EPS, Q4 2025 earnings at $0.28 EPS, FY2025 earnings at $0.88 EPS and FY2026 earnings at $1.05 EPS.

ENLC has been the topic of several other reports. Mizuho reissued a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, October 31st. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, August 16th. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $16.00 to $15.00 in a report on Friday, August 30th. Ten investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Price Performance

NYSE ENLC opened at $16.01 on Tuesday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s fifty day moving average price is $15.02 and its 200 day moving average price is $14.03. EnLink Midstream has a 1 year low of $11.53 and a 1 year high of $16.40. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 76.24 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last released 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). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.10 earnings per share. EnLink Midstream’s revenue was down 7.9% on a year-over-year basis. As a group, equities research analysts forecast that EnLink Midstream will post 0.51 earnings per share for the current year.

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s payout ratio is currently 252.38%.

Insider Transactions at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC acquired a new position in shares of EnLink Midstream during the 1st quarter worth about $1,453,000. Van ECK Associates Corp raised its holdings 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 valued at $1,883,000 after acquiring an additional 63,997 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in EnLink Midstream by 4.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company’s stock valued at $31,016,000 after acquiring an additional 93,587 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in EnLink Midstream by 22.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after acquiring an additional 416,424 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in EnLink Midstream by 120.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after acquiring an additional 1,141,254 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.