EnLink Midstream, LLC (NYSE:ENLC) Receives $15.44 Average PT from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been given an average recommendation of “Hold” by the ten brokerages that are covering the company, Marketbeat Ratings reports. Seven equities research 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 12 month price target among brokers that have covered the stock in the last year is $15.44.

Several research analysts have recently commented on the company. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. UBS Group lowered 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. Morgan Stanley lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a report on Monday, September 16th. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a report on Friday, August 30th. Finally, StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th.

EnLink Midstream Trading Up 0.5 %

Shares of ENLC opened at $14.81 on Tuesday. The business’s 50-day moving average price is $14.36 and its 200-day moving average price is $13.70. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $14.87. The stock has a market cap of $6.83 billion, a PE ratio of 49.37 and a beta of 2.40. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 EPS 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 for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the firm posted $0.12 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that EnLink Midstream will post 0.58 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.1325 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.58%. EnLink Midstream’s payout ratio is currently 176.67%.

Insider Buying and Selling at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of EnLink Midstream during the second quarter valued at $28,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of EnLink Midstream during the 2nd quarter worth approximately $56,000. Sunbelt Securities Inc. increased its position in shares of EnLink Midstream by 24.2% during the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 1,343 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of EnLink Midstream during the 1st quarter valued at approximately $105,000. Finally, First Horizon Advisors Inc. increased its position in shares of EnLink Midstream by 12.5% during the 2nd 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 during the last quarter. 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.