EnLink Midstream (NYSE:ENLC) Now Covered by Analysts at StockNews.com

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

A number of other research analysts also recently commented on the stock. Mizuho reiterated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, October 31st. Stifel Nicolaus downgraded EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research note on Friday, August 30th. Capital One Financial restated an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, EnLink Midstream has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Trading Down 0.4 %

NYSE:ENLC opened at $14.64 on Friday. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 69.71 and a beta of 2.44. EnLink Midstream has a one year low of $11.53 and a one year high of $16.40. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The business’s 50-day simple moving average is $15.11 and its 200 day simple moving average is $14.16.

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 analysts’ expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. EnLink Midstream’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, sell-side analysts predict that EnLink Midstream will post 0.51 earnings per share for the current fiscal year.

EnLink Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.1325 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.62%. EnLink Midstream’s dividend payout ratio is currently 252.38%.

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 the SEC website. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENLC. First Horizon Advisors Inc. raised its stake 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 valued at $106,000 after purchasing an additional 853 shares in the last quarter. First Dallas Securities Inc. raised its position in shares of EnLink Midstream by 0.6% during the 2nd quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock worth $2,182,000 after buying an additional 960 shares in the last quarter. Callahan Advisors LLC boosted its holdings in shares of EnLink Midstream by 8.7% in the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after acquiring an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of EnLink Midstream by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock valued at $191,000 after acquiring an additional 1,151 shares during the period. Finally, Citigroup Inc. raised its holdings in EnLink Midstream by 0.6% during the third quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock worth $3,885,000 after purchasing an additional 1,473 shares in 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.