EnLink Midstream, LLC (NYSE:ENLC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $15.10.

ENLC has been the topic of several recent analyst reports. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a report on Friday. Tudor, Pickering, Holt & Co. upgraded 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 report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th.

EnLink Midstream Stock Performance

ENLC stock opened at $14.36 on Monday. EnLink Midstream has a twelve month low of $11.44 and a twelve month high of $14.80. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The company has a market cap of $6.63 billion, a P/E ratio of 41.03 and a beta of 2.43. The business’s fifty day moving average is $13.46 and its 200-day moving average is $13.23.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. Equities research analysts forecast that EnLink Midstream will post 0.59 EPS for the current year.

EnLink Midstream Increases Dividend

The firm also recently declared 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. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Friday, August 2nd. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake 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 worth $106,000 after buying an additional 853 shares during the last quarter. First Dallas Securities Inc. boosted its position in EnLink Midstream by 0.6% during the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock valued at $2,182,000 after purchasing an additional 960 shares during the last quarter. Callahan Advisors LLC grew its stake in EnLink Midstream by 8.7% in the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after purchasing an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of EnLink Midstream by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after purchasing an additional 1,151 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its stake 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 worth $94,000 after purchasing an additional 1,343 shares in the last quarter. Institutional investors and hedge funds 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.