EnLink Midstream, LLC (NYSE:ENLC) Receives Average Rating of “Hold” from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have received an average recommendation of “Hold” from the thirteen analysts that are covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.40.

ENLC has been the topic of a number of research reports. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Monday, September 30th. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a research note on Monday, September 16th. US Capital Advisors cut EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Mizuho reaffirmed a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Friday, August 30th.

Insider Activity at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were 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 accessible through the SEC website. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of EnLink Midstream

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

EnLink Midstream Stock Performance

ENLC opened at $14.64 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The firm has a market cap of $6.69 billion, a PE ratio of 69.71 and a beta of 2.44. The business has a fifty day simple moving average of $15.11 and a 200-day simple moving average of $14.17. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $16.40.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, equities analysts predict that EnLink Midstream will post 0.51 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

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.