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

Shares of EnLink Midstream, LLC (NYSE:ENLC) have received a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Ten 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 company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $15.40.

A number of research firms have weighed in on ENLC. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, November 21st. Capital One Financial reaffirmed an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a report on Tuesday, September 3rd. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Friday, August 30th. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research report on Monday, September 16th.

EnLink Midstream Stock Down 1.0 %

Shares of ENLC opened at $14.33 on Wednesday. The firm has a 50 day simple moving average of $15.10 and a two-hundred day simple moving average of $14.20. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. EnLink Midstream has a one year low of $11.53 and a one year high of $16.40. The company has a market cap of $6.55 billion, a P/E ratio of 68.24 and a beta of 2.44.

EnLink Midstream (NYSE:ENLC) last posted its quarterly 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). The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. Research analysts forecast that EnLink Midstream will post 0.51 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.1325 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.70%. EnLink Midstream’s payout ratio is 252.38%.

Insider Buying and Selling at EnLink Midstream

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

Institutional Trading of EnLink Midstream

Several large investors have recently made changes to their positions in the company. Tidal Investments LLC boosted its holdings in EnLink Midstream by 9.7% in the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 1,623 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of EnLink Midstream in the 3rd quarter worth $98,000. Sanctuary Advisors LLC grew its position in EnLink Midstream by 8.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock valued at $473,000 after purchasing an additional 2,362 shares during the period. Zimmer Partners LP acquired a new position in EnLink Midstream during the third quarter worth $363,000. Finally, Brookfield Corp ON raised its holdings in EnLink Midstream by 97.1% during the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock worth $52,285,000 after buying an additional 1,775,203 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.