EnLink Midstream (NYSE:ENLC) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report report published on Sunday. The firm issued a hold rating on the pipeline company’s stock.

A number of other research firms also recently commented on ENLC. Stifel Nicolaus downgraded EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research note on Friday, August 30th. Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 30th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Finally, US Capital Advisors lowered EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Trading Up 2.2 %

Shares of EnLink Midstream stock opened at $14.09 on Friday. EnLink Midstream has a 52-week low of $11.53 and a 52-week high of $16.40. The stock has a market cap of $6.44 billion, a PE ratio of 67.10 and a beta of 2.44. The firm has a 50-day moving average of $15.05 and a 200-day moving average of $14.22. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last announced its 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 for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, sell-side analysts forecast that EnLink Midstream will post 0.51 EPS for the current year.

EnLink Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 252.38%.

Insider Buying and Selling

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Dallas Securities Inc. lifted its stake in shares of EnLink Midstream by 0.6% in the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock worth $2,182,000 after acquiring an additional 960 shares during the period. Callahan Advisors LLC lifted its position in shares of EnLink Midstream by 8.7% in the 2nd quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock worth $172,000 after purchasing an additional 1,000 shares during the period. Bank of New York Mellon Corp lifted its position in shares of EnLink Midstream by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after purchasing an additional 1,151 shares during the period. Citigroup Inc. boosted its stake in shares of EnLink Midstream by 0.6% in the 3rd quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 1,473 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of EnLink Midstream by 21.9% during the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after buying an additional 1,511 shares during the period. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.