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

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

Other research analysts have also issued reports about the stock. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Capital One Financial reissued an “equal weight” rating and issued a $16.00 price objective on shares of EnLink Midstream in a report on Tuesday, September 3rd. Mizuho reaffirmed a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, October 31st. UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research note on Monday, September 30th. Finally, US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Eleven 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. Based on data from MarketBeat, EnLink Midstream presently has a consensus rating of “Hold” and an average target price of $15.40.

EnLink Midstream Stock Performance

Shares of ENLC stock opened at $14.41 on Friday. 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 company has a market capitalization of $6.59 billion, a P/E ratio of 68.62 and a beta of 2.44. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $16.40. The business’s 50 day moving average is $15.04 and its two-hundred day moving average is $14.23.

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). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates 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 was down 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. Analysts expect that EnLink Midstream will post 0.51 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.68%. EnLink Midstream’s payout ratio is presently 252.38%.

Insider Buying and Selling

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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