Weekly Research Analysts’ Ratings Changes for EnLink Midstream (ENLC)

EnLink Midstream (NYSE: ENLC) recently received a number of ratings updates from brokerages and research firms:

• 8/30/2024 – EnLink Midstream was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $15.00 price target on the stock.
• 8/30/2024 – EnLink Midstream was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $15.00 price target on the stock, down previously from $16.00.
• 8/29/2024 – EnLink Midstream had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $15.00 price target on the stock.
• 8/27/2024 – EnLink Midstream had its price target raised by analysts at Morgan Stanley from $15.00 to $16.00. They now have an “overweight” rating on the stock.
• 8/16/2024 – EnLink Midstream was upgraded by analysts at Tudor Pickering to a “strong-buy” rating.
• 8/16/2024 – EnLink Midstream was upgraded by analysts at Tudor, Pickering, Holt & Co. from a “hold” rating to a “buy” rating. They now have a $15.00 price target on the stock.
• 8/13/2024 – EnLink Midstream was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/5/2024 – EnLink Midstream was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/10/2024 – EnLink Midstream had its price target raised by analysts at JPMorgan Chase & Co. from $14.00 to $15.00. They now have a “neutral” rating on the stock.
• 7/10/2024 – EnLink Midstream was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/8/2024 – EnLink Midstream was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $17.00 price target on the stock, up previously from $13.00.

EnLink Midstream Stock Down 0.3 %

Shares of NYSE:ENLC traded down $0.04 during midday trading on Monday, reaching $14.36. The company had a trading volume of 5,056,100 shares, compared to its average volume of 2,095,888. The stock has a market cap of $6.48 billion, a PE ratio of 41.03 and a beta of 2.43. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. EnLink Midstream, LLC has a 1-year low of $11.44 and a 1-year high of $14.80. The business’s 50 day moving average price is $13.46 and its 200 day moving average price is $13.24.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. Research analysts forecast that EnLink Midstream, LLC will post 0.59 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were paid a $0.1325 dividend. This is a positive change 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 3.69%. EnLink Midstream’s dividend payout ratio (DPR) is presently 151.43%.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of ENLC. Van ECK Associates Corp grew its holdings in EnLink Midstream by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 78,636 shares of the pipeline company’s stock worth $956,000 after acquiring an additional 7,962 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of EnLink Midstream in the 4th quarter valued at about $375,000. Kayne Anderson Capital Advisors LP lifted its stake in EnLink Midstream by 6.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,860,400 shares of the pipeline company’s stock valued at $22,622,000 after buying an additional 111,300 shares during the period. Jump Financial LLC boosted its holdings in shares of EnLink Midstream by 98.8% during the 4th quarter. Jump Financial LLC now owns 60,025 shares of the pipeline company’s stock worth $730,000 after buying an additional 29,824 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of EnLink Midstream by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,736,175 shares of the pipeline company’s stock worth $81,911,000 after buying an additional 342,204 shares during the period. Institutional investors own 45.87% of the company’s stock.

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.