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

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

A number of other research firms have also recently commented on ENLC. US Capital Advisors cut EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research note on Monday, September 16th. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Mizuho reissued a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, EnLink Midstream presently has an average rating of “Hold” and an average target price of $15.40.

EnLink Midstream Trading Up 0.1 %

ENLC opened at $14.31 on Tuesday. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 68.14 and a beta of 2.43. The stock has a fifty day moving average price of $14.95 and a 200-day moving average price of $14.31. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $16.40. 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 (NYSE:ENLC) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that EnLink Midstream will post 0.51 earnings per share for the current fiscal year.

EnLink Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.1325 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.70%. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

Insider Buying and Selling

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in EnLink Midstream in the 2nd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB bought a new stake in shares of EnLink Midstream during the 3rd quarter worth $98,000. Icon Wealth Advisors LLC bought a new stake in EnLink Midstream during the third quarter valued at about $107,000. Sunbelt Securities Inc. grew its holdings in EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares during the last quarter. Finally, Inscription Capital LLC bought a new position in EnLink Midstream during the third quarter worth $154,000. Institutional investors 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.