Analysts Set EnLink Midstream, LLC (NYSE:ENLC) Target Price at $15.40

EnLink Midstream, LLC (NYSE:ENLC) has been given a consensus rating of “Hold” by the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.40.

A number of equities research analysts have recently issued reports on ENLC shares. StockNews.com started coverage on shares of EnLink Midstream in a research note on Friday, December 6th. They issued a “hold” rating for the company. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Monday, September 30th. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, August 16th. Finally, Capital One Financial reissued an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a research note on Tuesday, September 3rd.

EnLink Midstream Stock Performance

EnLink Midstream stock opened at $14.62 on Wednesday. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $16.40. The firm’s fifty day moving average price is $15.11 and its 200-day moving average price is $14.14. The stock has a market cap of $6.68 billion, a P/E ratio of 69.81 and a beta of 2.44. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results 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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. On average, equities research analysts expect that EnLink Midstream will post 0.51 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.1325 per share. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.63%. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

Insider Activity

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction dated Tuesday, October 15th. The shares were 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 this hyperlink. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EnLink Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank boosted its position in shares of EnLink Midstream by 16.2% in the 1st quarter. Comerica Bank now owns 14,793 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 2,063 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of EnLink Midstream in the first quarter worth $1,799,000. Cetera Advisors LLC grew its stake in shares of EnLink Midstream by 14.9% in the first quarter. Cetera Advisors LLC now owns 15,589 shares of the pipeline company’s stock worth $213,000 after acquiring an additional 2,025 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of EnLink Midstream by 63.1% during the second quarter. SG Americas Securities LLC now owns 12,526 shares of the pipeline company’s stock valued at $172,000 after acquiring an additional 4,846 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in shares of EnLink Midstream in the 2nd quarter worth about $28,000. 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.