EnLink Midstream, LLC (NYSE:ENLC) Receives $15.40 Average Price Target from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $15.40.

Several equities analysts have recently issued reports on ENLC shares. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Monday, September 30th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Capital One Financial reissued an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. Mizuho reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, August 29th.

EnLink Midstream Stock Performance

ENLC stock opened at $15.45 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $15.67. The stock’s 50 day simple moving average is $14.82 and its 200 day simple moving average is $13.90. The firm has a market cap of $7.06 billion, a P/E ratio of 73.57 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last posted its quarterly 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. As a group, equities research analysts predict that EnLink Midstream will post 0.55 EPS for the current year.

EnLink Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 252.38%.

Insider Buying and Selling 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 that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

Large investors have recently bought and sold shares of the business. ORG Partners LLC bought a new position in shares of EnLink Midstream in the second quarter worth about $28,000. Newbridge Financial Services Group Inc. bought a new position in EnLink Midstream in the 2nd quarter worth approximately $56,000. SG Americas Securities LLC acquired a new position in shares of EnLink Midstream during the first quarter worth approximately $105,000. First Horizon Advisors Inc. grew its stake 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. Finally, Icon Wealth Advisors LLC bought a new position in EnLink Midstream during the third quarter worth $107,000. 45.87% of the stock is currently owned by institutional investors.

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.