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

EnLink Midstream, LLC (NYSE:ENLC) has earned a consensus rating of “Hold” from the thirteen analysts that are covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $15.40.

ENLC has been the topic of several recent analyst reports. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Mizuho reissued a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. StockNews.com assumed coverage on EnLink Midstream in a research note on Monday, December 30th. They set a “hold” rating for the company. Finally, UBS Group cut 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.

EnLink Midstream Stock Up 1.2 %

ENLC stock opened at $14.50 on Friday. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 69.05 and a beta of 2.43. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40. The business has a 50 day moving average price of $14.97 and a two-hundred day moving average price of $14.28. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

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

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 252.38%.

Insider Activity at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EnLink Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Dimensional Fund Advisors LP increased its position in shares of EnLink Midstream by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock worth $93,884,000 after purchasing an additional 133,327 shares during the period. Merewether Investment Management LP bought a new position in EnLink Midstream in the 3rd quarter valued at about $64,477,000. Brookfield Corp ON raised its position in shares of EnLink Midstream by 97.1% in the 3rd 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. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of EnLink Midstream by 32.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock worth $48,236,000 after acquiring an additional 812,767 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in shares of EnLink Midstream by 4.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock worth $32,363,000 after acquiring an additional 106,467 shares in the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

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.