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

StockNews.com started coverage on shares of EnLink Midstream (NYSE:ENLC) in a report released on Monday. The brokerage issued a hold rating on the pipeline company’s stock.

Other equities research analysts also recently issued reports about the stock. Mizuho reaffirmed a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, October 31st. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Capital One Financial reiterated an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, November 21st. Finally, UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Monday, September 30th. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.40.

EnLink Midstream Stock Down 0.4 %

Shares of NYSE:ENLC opened at $14.15 on Monday. The firm has a fifty day moving average price of $14.99 and a two-hundred day moving average price of $14.27. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 67.38 and a beta of 2.44. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. EnLink Midstream has a one year low of $11.53 and a one year high of $16.40.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data 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). The business 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 quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. Analysts anticipate that EnLink Midstream will post 0.51 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s dividend payout ratio is 252.38%.

Insider Buying and Selling

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’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 transaction of $2,985,077,219.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ENLC. Newbridge Financial Services Group Inc. purchased a new position in shares of EnLink Midstream during the second quarter valued at about $56,000. Wilmington Savings Fund Society FSB purchased a new position in shares of EnLink Midstream during the 3rd quarter worth approximately $98,000. Icon Wealth Advisors LLC purchased a new position in shares of EnLink Midstream during the 3rd quarter worth approximately $107,000. Sunbelt Securities Inc. raised its position in shares of EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after acquiring an additional 1,511 shares in the last quarter. Finally, Inscription Capital LLC purchased a new position in shares of EnLink Midstream in the 3rd quarter valued at approximately $154,000. 45.87% of the stock is owned by hedge funds and other institutional investors.

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.