Brokerages Set EnLink Midstream, LLC (NYSE:ENLC) Target Price at $15.40

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Nine 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. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $15.40.

A number of equities analysts have commented on ENLC shares. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a report on Monday, September 16th. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a report on Friday, August 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Friday, August 16th. Finally, Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th.

Insider Buying and Selling

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENLC. ORG Partners LLC purchased a new position in EnLink Midstream in the second quarter worth approximately $28,000. Newbridge Financial Services Group Inc. purchased a new position in shares of EnLink Midstream during the second quarter worth $56,000. SG Americas Securities LLC purchased a new position in shares of EnLink Midstream during the first quarter worth $105,000. First Horizon Advisors Inc. boosted its position in shares of EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after buying an additional 853 shares during the period. Finally, Icon Wealth Advisors LLC purchased a new position in shares of EnLink Midstream during the third quarter worth $107,000. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Stock Performance

NYSE ENLC opened at $15.75 on Friday. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 74.98 and a beta of 2.41. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $15.85. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a 50-day moving average of $14.89 and a 200 day moving average of $13.94.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.10 EPS. EnLink Midstream’s revenue was down 7.9% compared to the same quarter last year. Sell-side analysts anticipate that EnLink Midstream will post 0.55 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.37%. EnLink Midstream’s payout ratio is 252.38%.

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.