EnLink Midstream (NYSE:ENLC) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of EnLink Midstream (NYSE:ENLC) from a buy rating to a hold rating in a research note published on Monday morning.

A number of other research analysts have also weighed in on ENLC. JPMorgan Chase & Co. raised their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. Stifel Nicolaus cut EnLink Midstream from a buy rating to a hold rating and set a $15.00 price objective on the stock. in a research report on Friday. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a hold rating to a buy rating and set a $15.00 target price for the company in a research report on Friday, August 16th. Royal Bank of Canada reissued a sector perform rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, August 29th. Finally, Tudor Pickering upgraded EnLink Midstream to a strong-buy rating in a research note on Friday, August 16th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $15.10.

EnLink Midstream Price Performance

ENLC stock opened at $14.36 on Monday. 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 firm has a market cap of $6.48 billion, a price-to-earnings ratio of 41.03 and a beta of 2.43. The company’s fifty day simple moving average is $13.46 and its 200 day simple moving average is $13.24. EnLink Midstream has a 12-month low of $11.44 and a 12-month high of $14.80.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data 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). The business 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 firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. On average, analysts expect that EnLink Midstream will post 0.59 earnings per share for the current year.

EnLink Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were paid a $0.1325 dividend. The ex-dividend date was Friday, August 2nd. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.69%. EnLink Midstream’s payout ratio is currently 151.43%.

Institutional Investors Weigh In On EnLink Midstream

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of EnLink Midstream by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 78,636 shares of the pipeline company’s stock valued at $956,000 after buying an additional 7,962 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of EnLink Midstream in the fourth quarter worth $375,000. Kayne Anderson Capital Advisors LP boosted its position in shares of EnLink Midstream by 6.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,860,400 shares of the pipeline company’s stock valued at $22,622,000 after buying an additional 111,300 shares during the last quarter. Jump Financial LLC increased its holdings in EnLink Midstream by 98.8% in the 4th quarter. Jump Financial LLC now owns 60,025 shares of the pipeline company’s stock worth $730,000 after buying an additional 29,824 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in EnLink Midstream by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,736,175 shares of the pipeline company’s stock worth $81,911,000 after buying an additional 342,204 shares during the last quarter. 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.