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

EnLink Midstream, LLC (NYSE:ENLC) has been given an average rating of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.33.

Several research firms have recently weighed in on ENLC. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Capital One Financial reaffirmed an “equal weight” rating and issued a $16.00 price objective on shares of EnLink Midstream in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Morgan Stanley lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 16th.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors have recently made changes to their positions in ENLC. UBS Group AG raised its position in shares of EnLink Midstream by 6.9% in the 4th quarter. UBS Group AG now owns 1,648,879 shares of the pipeline company’s stock valued at $20,050,000 after purchasing an additional 106,523 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of EnLink Midstream by 56.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,034,809 shares of the pipeline company’s stock valued at $12,583,000 after purchasing an additional 373,969 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of EnLink Midstream by 1.3% in the 4th quarter. Allianz Asset Management GmbH now owns 2,100,600 shares of the pipeline company’s stock valued at $25,543,000 after purchasing an additional 26,700 shares in the last quarter. Boulder Hill Capital Management LP acquired a new position in shares of EnLink Midstream in the 4th quarter valued at approximately $582,000. Finally, Goldman Sachs Group Inc. raised its position in shares of EnLink Midstream by 1.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after purchasing an additional 186,801 shares in the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Stock Down 0.3 %

ENLC opened at $14.45 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 41.29 and a beta of 2.40. The business has a 50-day moving average of $13.70 and a two-hundred day moving average of $13.49. EnLink Midstream has a 12 month low of $11.44 and a 12 month high of $14.80.

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

EnLink Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were given a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.67%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, August 2nd. EnLink Midstream’s dividend payout ratio is presently 151.43%.

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.