EnLink Midstream (NYSE:ENLC) Raised to Buy at StockNews.com

StockNews.com upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other analysts also recently commented on ENLC. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a hold rating to a buy rating and set a $15.00 price objective for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. Capital One Financial reissued an equal weight rating and set a $16.00 target price on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Wells Fargo & Company downgraded EnLink Midstream from an overweight rating to an equal weight rating and cut their target price for the stock from $16.00 to $15.00 in a research note on Friday, August 30th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $15.33.

EnLink Midstream Stock Up 0.1 %

EnLink Midstream stock opened at $14.52 on Tuesday. EnLink Midstream has a fifty-two week low of $11.44 and a fifty-two week high of $14.80. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $6.70 billion, a P/E ratio of 41.49 and a beta of 2.40. The stock has a 50-day simple moving average of $13.58 and a 200-day simple moving average of $13.37.

EnLink Midstream (NYSE:ENLC) last posted 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 for the quarter, compared to analysts’ expectations of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 earnings per share. Equities research analysts expect that EnLink Midstream will post 0.59 earnings per share for the current year.

EnLink Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Friday, August 2nd. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio is 151.43%.

Institutional Investors Weigh In On EnLink Midstream

A number of large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 853 shares during the last quarter. First Dallas Securities Inc. boosted its holdings in shares of EnLink Midstream by 0.6% during the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock worth $2,182,000 after purchasing an additional 960 shares during the last quarter. Callahan Advisors LLC boosted its holdings in shares of 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 last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of EnLink Midstream by 24.2% in the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after buying an additional 1,343 shares during the period. Institutional investors and hedge funds 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.