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

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been assigned an average rating of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $15.40.

A number of analysts have recently issued reports on the stock. Raymond James downgraded shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a report on Monday, September 16th. Mizuho reissued a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. StockNews.com began coverage on EnLink Midstream in a research note on Tuesday, January 7th. They issued a “hold” rating for the company. Finally, UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Monday, September 30th.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $14.36 on Friday. The stock has a market cap of $6.56 billion, a P/E ratio of 68.38 and a beta of 2.43. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The business’s 50-day moving average price is $14.93 and its two-hundred day moving average price is $14.33. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share 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 during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, equities analysts predict that EnLink Midstream will post 0.51 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a yield of 3.69%. EnLink Midstream’s dividend payout ratio is currently 252.38%.

Insiders Place Their Bets

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction that occurred 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

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