EnLink Midstream (NYSE:ENLC) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a report published on Tuesday. The firm issued a hold rating on the pipeline company’s stock.

Several other research firms also recently commented on ENLC. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, November 21st. Mizuho reissued a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Monday, September 30th. Finally, Raymond James downgraded shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, EnLink Midstream currently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Up 1.0 %

ENLC opened at $14.47 on Tuesday. The company’s 50-day moving average price is $14.94 and its two-hundred day moving average price is $14.32. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 68.90 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. EnLink Midstream’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. As a group, equities analysts expect that EnLink Midstream will post 0.51 earnings per share for the current year.

EnLink Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.1325 per share. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.66%. EnLink Midstream’s dividend payout ratio is presently 252.38%.

Insider Activity at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EnLink Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of EnLink Midstream by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after purchasing an additional 1,151 shares in the last quarter. American Century Companies Inc. raised its stake in EnLink Midstream by 0.7% during the second quarter. American Century Companies Inc. now owns 1,586,315 shares of the pipeline company’s stock valued at $21,828,000 after buying an additional 10,296 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in EnLink Midstream by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock worth $93,884,000 after acquiring an additional 133,327 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of EnLink Midstream by 64.4% in the second quarter. Hsbc Holdings PLC now owns 33,646 shares of the pipeline company’s stock worth $459,000 after acquiring an additional 13,183 shares during the last quarter. Finally, Thomist Capital Management LP bought a new position in shares of EnLink Midstream during the second quarter valued at $243,000. Hedge funds and other institutional investors own 45.87% of the company’s stock.

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.