Research Analysts’ Recent Ratings Updates for EnLink Midstream (ENLC)

Several analysts have recently updated their ratings and price targets for EnLink Midstream (NYSE: ENLC):

• 9/16/2024 – EnLink Midstream was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $16.00 price target on the stock.
• 9/10/2024 – EnLink Midstream was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/3/2024 – EnLink Midstream had its “equal weight” rating reaffirmed by analysts at Capital One Financial Co.. They now have a $16.00 price target on the stock.
• 9/2/2024 – EnLink Midstream was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/30/2024 – EnLink Midstream was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $15.00 price target on the stock.
• 8/30/2024 – EnLink Midstream was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $15.00 price target on the stock, down previously from $16.00.
• 8/29/2024 – EnLink Midstream had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $15.00 price target on the stock.
• 8/27/2024 – EnLink Midstream had its price target raised by analysts at Morgan Stanley from $15.00 to $16.00. They now have an “overweight” rating on the stock.
• 8/16/2024 – EnLink Midstream was upgraded by analysts at Tudor Pickering to a “strong-buy” rating.
• 8/16/2024 – EnLink Midstream was upgraded by analysts at Tudor, Pickering, Holt & Co. from a “hold” rating to a “buy” rating. They now have a $15.00 price target on the stock.
• 8/13/2024 – EnLink Midstream was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/5/2024 – EnLink Midstream was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

EnLink Midstream Price Performance

ENLC stock opened at $14.62 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50 day moving average price is $13.66 and its 200 day moving average price is $13.46. The firm has a market cap of $6.60 billion, a P/E ratio of 41.77 and a beta of 2.40. EnLink Midstream, LLC has a 1 year low of $11.44 and a 1 year high of $14.80.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, sell-side analysts expect that EnLink Midstream, LLC will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were given a dividend of $0.1325 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.53 dividend on an annualized basis and a yield of 3.63%. 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

Several institutional investors have recently bought and sold shares of the business. ORG Partners LLC purchased a new stake in shares of EnLink Midstream in the second quarter valued at $28,000. Newbridge Financial Services Group Inc. purchased a new stake in EnLink Midstream in the 2nd quarter valued at about $56,000. Sunbelt Securities Inc. increased 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 valued at $94,000 after acquiring an additional 1,343 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of EnLink Midstream during the 1st quarter valued at about $105,000. Finally, First Horizon Advisors Inc. boosted its position in shares of EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 853 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.