Capital One Financial Reaffirms Equal Weight Rating for EnLink Midstream (NYSE:ENLC)

Capital One Financial reaffirmed their equal weight rating on shares of EnLink Midstream (NYSE:ENLC) in a research note released on Tuesday morning, Marketbeat reports. They currently have a $16.00 target price on the pipeline company’s stock.

A number of other equities analysts have also commented on ENLC. Tudor Pickering raised shares of EnLink Midstream to a strong-buy rating in a research report on Friday, August 16th. Wells Fargo & Company downgraded shares of EnLink Midstream from an overweight rating to an equal weight rating and dropped their price target for the company from $16.00 to $15.00 in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. Royal Bank of Canada restated a sector perform rating and set a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, August 29th. Finally, Stifel Nicolaus downgraded EnLink Midstream from a buy rating to a hold rating and set a $15.00 target price for the company. in a research report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $15.20.

EnLink Midstream Stock Performance

Shares of NYSE ENLC opened at $14.17 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $6.54 billion, a P/E ratio of 40.49 and a beta of 2.40. EnLink Midstream has a 12 month low of $11.44 and a 12 month high of $14.80. The stock has a 50 day moving average of $13.53 and a 200-day moving average of $13.29.

EnLink Midstream (NYSE:ENLC) last released 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 during the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. EnLink Midstream’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 earnings per share. As a group, equities research analysts predict that EnLink Midstream will post 0.59 EPS for the current year.

EnLink Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were paid a $0.1325 dividend. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.53 annualized dividend and a dividend yield of 3.74%. EnLink Midstream’s payout ratio is currently 151.43%.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. raised its stake in EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after buying an additional 853 shares during the last quarter. First Dallas Securities Inc. boosted its position in shares of EnLink Midstream by 0.6% during the 2nd quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock valued at $2,182,000 after purchasing an additional 960 shares in the last quarter. Callahan Advisors LLC grew its stake in EnLink Midstream by 8.7% during the second 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 grew its stake in EnLink Midstream by 9.1% during the second 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. Finally, Sunbelt Securities Inc. increased its holdings in EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,343 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.