EnLink Midstream, LLC (NYSE:ENLC) Receives $15.40 Average Target Price from Analysts

EnLink Midstream, LLC (NYSE:ENLC) has been given a consensus rating of “Hold” by the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.40.

Several brokerages have recently commented on ENLC. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research note on Monday, September 16th. StockNews.com initiated coverage on shares of EnLink Midstream in a research note on Tuesday. They set a “hold” rating on the stock. Finally, Mizuho restated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st.

EnLink Midstream Price Performance

Shares of ENLC stock opened at $14.31 on Friday. The stock’s fifty day simple moving average is $14.96 and its 200 day simple moving average is $14.31. EnLink Midstream has a one year low of $11.53 and a one year high of $16.40. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 68.14 and a beta of 2.43. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last released its quarterly 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). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm earned $0.10 earnings per share. EnLink Midstream’s quarterly revenue was down 7.9% on a year-over-year basis. On average, analysts expect 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 issued a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

Insider Buying and Selling at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction dated 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 SEC, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC grew its position in EnLink Midstream by 9.7% in the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock valued at $266,000 after purchasing an additional 1,623 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of EnLink Midstream in the 3rd quarter valued at about $98,000. Sanctuary Advisors LLC increased its position in shares of EnLink Midstream by 8.5% in the third quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock valued at $473,000 after acquiring an additional 2,362 shares during the last quarter. Zimmer Partners LP bought a new stake in EnLink Midstream during the third quarter worth about $363,000. Finally, Brookfield Corp ON boosted its position in EnLink Midstream by 97.1% during the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after purchasing an additional 1,775,203 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors.

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.