UBS Group Downgrades EnLink Midstream (NYSE:ENLC) to Neutral

UBS Group lowered shares of EnLink Midstream (NYSE:ENLC) from a buy rating to a neutral rating in a research report sent to investors on Monday, MarketBeat reports. They currently have $16.00 price target on the pipeline company’s stock.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus downgraded shares of EnLink Midstream from a buy rating to a hold rating and set a $15.00 price objective for the company. in a research note on Friday, August 30th. Tudor Pickering raised EnLink Midstream to a strong-buy rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on EnLink Midstream from $14.00 to $15.00 and gave the stock a neutral rating in a research report on Wednesday, July 10th. Royal Bank of Canada restated a sector perform rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, August 29th. Finally, Morgan Stanley cut shares of EnLink Midstream from an overweight rating to an equal weight rating and set a $16.00 price target on the stock. in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $15.44.

EnLink Midstream Price Performance

Shares of EnLink Midstream stock opened at $14.71 on Monday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. EnLink Midstream has a one year low of $11.44 and a one year high of $14.80. The business’s 50 day simple moving average is $13.77 and its two-hundred day simple moving average is $13.56. The stock has a market capitalization of $6.64 billion, a P/E ratio of 42.03 and a beta of 2.40.

EnLink Midstream (NYSE:ENLC) last issued its earnings results 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 firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share. Analysts forecast that EnLink Midstream will post 0.59 EPS for the current year.

EnLink Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were given a dividend of $0.1325 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.53 annualized dividend and a yield of 3.60%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of ENLC. ORG Partners LLC purchased a new position in EnLink Midstream during the 2nd quarter valued at about $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of EnLink Midstream during the second quarter valued at approximately $56,000. Sunbelt Securities Inc. lifted its holdings in shares of EnLink Midstream by 24.2% during the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 1,343 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of EnLink Midstream in the 1st quarter worth approximately $105,000. Finally, First Horizon Advisors Inc. grew its stake in shares of EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after buying an additional 853 shares during the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

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.