Brokerages Set EnLink Midstream, LLC (NYSE:ENLC) Target Price at $15.33

EnLink Midstream, LLC (NYSE:ENLC) has been given an average rating of “Hold” by the ten ratings firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $15.44.

ENLC has been the subject of several recent research reports. 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 report on Friday, August 16th. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Monday. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Friday, August 30th. Wells Fargo & Company cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Finally, Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th.

EnLink Midstream Stock Up 0.4 %

NYSE:ENLC opened at $14.71 on Friday. EnLink Midstream has a 1 year low of $11.44 and a 1 year high of $14.80. 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 stock has a market cap of $6.79 billion, a price-to-earnings ratio of 42.03 and a beta of 2.40. The stock has a 50-day moving average price of $13.77 and a two-hundred day moving average price of $13.56.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the firm posted $0.12 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. As a group, equities analysts expect that EnLink Midstream will post 0.59 earnings per share for the current year.

EnLink Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders 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 yield of 3.60%. EnLink Midstream’s dividend payout ratio is currently 151.43%.

Institutional Trading of EnLink Midstream

Several institutional investors and hedge funds have recently bought and sold shares of ENLC. HITE Hedge Asset Management LLC raised its stake in EnLink Midstream by 2,629.4% in the second quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock valued at $27,560,000 after buying an additional 1,929,551 shares during the period. Hennessy Advisors Inc. raised its stake in EnLink Midstream by 1,614.2% in the fourth quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after buying an additional 1,759,500 shares during the period. Chickasaw Capital Management LLC raised its stake in EnLink Midstream by 5.5% in the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after buying an additional 759,994 shares during the period. Millennium Management LLC raised its stake in EnLink Midstream by 1,433.6% in the second quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock valued at $6,850,000 after buying an additional 465,383 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in shares of EnLink Midstream by 22.8% during the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock worth $30,629,000 after purchasing an additional 416,424 shares during the period. Institutional investors 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.