EnLink Midstream (NYSE:ENLC) Price Target Raised to $16.00

EnLink Midstream (NYSE:ENLC) had its price objective raised by Morgan Stanley from $15.00 to $16.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the pipeline company’s stock.

ENLC has been the subject of several other research reports. Tudor Pickering raised EnLink Midstream to a strong-buy rating in a report on Friday, August 16th. Wells Fargo & Company upgraded shares of EnLink Midstream from an equal weight rating to an overweight rating and increased their price target for the company from $13.00 to $17.00 in a research note on Monday, July 8th. StockNews.com upgraded shares of EnLink Midstream from a hold rating to a buy rating in a research note on Tuesday, August 13th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a hold rating to a buy rating and set a $15.00 target price for the company in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $15.38.

EnLink Midstream Stock Down 1.9 %

Shares of ENLC stock opened at $13.21 on Tuesday. The firm’s fifty day moving average price is $13.41 and its two-hundred day moving average price is $13.20. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. EnLink Midstream has a 1 year low of $11.44 and a 1 year high of $14.38. The firm has a market capitalization of $5.96 billion, a P/E ratio of 37.74 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the firm posted $0.12 EPS. EnLink Midstream’s revenue was up 1.4% compared to the same quarter last year. On average, equities analysts predict that EnLink Midstream will post 0.6 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.1325 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.01%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio (DPR) is 151.43%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of EnLink Midstream by 1.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after acquiring an additional 186,801 shares during the period. Chickasaw Capital Management LLC raised its stake in EnLink Midstream by 5.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock worth $200,924,000 after purchasing an additional 759,994 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in EnLink Midstream by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock valued at $93,884,000 after purchasing an additional 133,327 shares during the period. Hennessy Advisors Inc. grew its position in shares of EnLink Midstream by 17.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 2,477,000 shares of the pipeline company’s stock worth $34,084,000 after purchasing an additional 360,400 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of EnLink Midstream by 4.7% during the second quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock worth $32,363,000 after purchasing an additional 106,467 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

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.