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

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been assigned a consensus rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.40.

Several equities analysts have recently issued reports on ENLC shares. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, November 21st. Mizuho reiterated a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a report on Monday, September 16th. Finally, StockNews.com started coverage on shares of EnLink Midstream in a research note on Tuesday. They issued a “hold” rating on the stock.

EnLink Midstream Stock Performance

Shares of NYSE:ENLC opened at $14.47 on Friday. The business has a fifty day moving average of $14.94 and a 200-day moving average of $14.32. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40. The firm has a market cap of $6.61 billion, a PE ratio of 68.90 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company earned $0.10 earnings per share. EnLink Midstream’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, equities research analysts predict that EnLink Midstream will post 0.51 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 252.38%.

Insider Activity

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is currently owned by company insiders.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of EnLink Midstream by 9.1% during the 2nd 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. Citigroup Inc. grew its stake in shares of EnLink Midstream by 0.6% in the third quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 1,473 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares in the last quarter. Tidal Investments LLC increased its holdings in EnLink Midstream by 9.7% during the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock worth $266,000 after buying an additional 1,623 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in EnLink Midstream by 13.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,090 shares of the pipeline company’s stock worth $233,000 after acquiring an additional 1,958 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.