EnLink Midstream, LLC (NYSE:ENLC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.33.

ENLC has been the subject of a number of recent research reports. StockNews.com lowered EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. dropped their price objective on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Capital One Financial started coverage on EnLink Midstream in a research note on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective for the company. Finally, Citigroup increased their price objective on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th.

EnLink Midstream Stock Performance

Shares of NYSE ENLC opened at $13.10 on Wednesday. The business has a fifty day simple moving average of $13.27 and a 200 day simple moving average of $12.79. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 37.43 and a beta of 2.36. EnLink Midstream has a one year low of $9.52 and a one year high of $14.18.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. Sell-side analysts expect that EnLink Midstream will post 0.62 EPS for the current year.

EnLink Midstream Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th were issued a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, April 25th. EnLink Midstream’s payout ratio is presently 151.43%.

Institutional Trading of EnLink Midstream

Several large investors have recently made changes to their positions in ENLC. Pathstone Family Office LLC boosted its holdings in EnLink Midstream by 103.4% in the third quarter. Pathstone Family Office LLC now owns 31,080 shares of the pipeline company’s stock valued at $380,000 after acquiring an additional 15,800 shares during the last quarter. UBS Group AG boosted its holdings in EnLink Midstream by 22.9% in the third quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock valued at $18,848,000 after acquiring an additional 287,400 shares during the last quarter. Mariner LLC boosted its holdings in EnLink Midstream by 9.1% in the third quarter. Mariner LLC now owns 120,915 shares of the pipeline company’s stock valued at $1,478,000 after acquiring an additional 10,088 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in EnLink Midstream in the third quarter valued at about $1,337,000. Finally, Hodges Capital Management Inc. bought a new position in EnLink Midstream in the third quarter valued at about $3,246,000. Institutional investors own 45.87% of the company’s stock.

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.