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

Shares of EnLink Midstream, LLC (NYSE:ENLC) have received a consensus recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat reports. Seven 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 twelve-month target price among brokers that have issued a report on the stock in the last year is $15.44.

Several research firms recently issued reports on ENLC. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, August 29th. Finally, Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Friday, August 30th.

Insiders Place Their Bets

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

A number of hedge funds have recently made changes to their positions in ENLC. Counterpoint Mutual Funds LLC bought a new stake in EnLink Midstream in the 1st quarter valued at about $690,000. Davis Investment Partners LLC increased its position in shares of EnLink Midstream by 21.6% during the first quarter. Davis Investment Partners LLC now owns 20,124 shares of the pipeline company’s stock valued at $278,000 after buying an additional 3,579 shares during the period. Sunbelt Securities Inc. increased its position in shares of EnLink Midstream by 24.2% during the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after buying an additional 1,343 shares during the period. Hennessy Advisors Inc. increased its position in shares of EnLink Midstream by 13.3% during the first quarter. Hennessy Advisors Inc. now owns 2,116,600 shares of the pipeline company’s stock valued at $28,870,000 after buying an additional 248,100 shares during the period. Finally, Maryland State Retirement & Pension System increased its position in shares of EnLink Midstream by 1.9% during the first quarter. Maryland State Retirement & Pension System now owns 202,971 shares of the pipeline company’s stock valued at $2,732,000 after buying an additional 3,842 shares during the period. 45.87% of the stock is currently owned by institutional investors.

EnLink Midstream Stock Performance

Shares of ENLC stock opened at $14.81 on Tuesday. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 49.37 and a beta of 2.40. EnLink Midstream has a 52 week low of $11.53 and a 52 week high of $14.87. 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 50 day moving average of $14.36 and a 200-day moving average of $13.70.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data 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 company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. On average, equities analysts forecast that EnLink Midstream will post 0.58 earnings per share for the current year.

EnLink Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Friday, November 1st. EnLink Midstream’s dividend payout ratio is 176.67%.

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.