EnLink Midstream (NYSE:ENLC) Earns “Neutral” Rating from Mizuho

Mizuho reissued their neutral rating on shares of EnLink Midstream (NYSE:ENLC) in a research note published on Thursday, MarketBeat reports. They currently have a $15.00 price target on the pipeline company’s stock.

Several other equities research analysts have also recently weighed in on ENLC. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. 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 research report on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, August 29th. Finally, Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Price Performance

Shares of ENLC opened at $14.71 on Thursday. The company has a 50 day moving average price of $14.51 and a 200-day moving average price of $13.74. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $14.96. The stock has a market capitalization of $6.79 billion, a PE ratio of 49.03 and a beta of 2.41. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the company posted $0.12 EPS. EnLink Midstream’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts predict that EnLink Midstream will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.1325 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.60%. EnLink Midstream’s dividend payout ratio is currently 176.67%.

Insider Activity

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. HITE Hedge Asset Management LLC raised its stake in EnLink Midstream by 2,629.4% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock worth $27,560,000 after acquiring an additional 1,929,551 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake 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 worth $30,348,000 after acquiring an additional 1,141,254 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in EnLink Midstream by 32.4% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock worth $48,236,000 after acquiring an additional 812,767 shares during the last quarter. Chickasaw Capital Management LLC raised its stake in EnLink Midstream by 5.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock worth $200,924,000 after acquiring an additional 759,994 shares during the last quarter. Finally, Millennium Management LLC grew its position in EnLink Midstream by 1,433.6% during the 2nd quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock worth $6,850,000 after purchasing an additional 465,383 shares during the period. 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.