EnLink Midstream, LLC (NYSE:ENLC) Receives $15.40 Average PT from Analysts

EnLink Midstream, LLC (NYSE:ENLC) has received an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Ten analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $15.40.

Several research firms have recently issued reports on ENLC. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Monday, September 30th. Mizuho reaffirmed a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. 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 report on Monday, September 16th.

Insider Activity at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of EnLink Midstream in the 2nd quarter valued at $56,000. Wilmington Savings Fund Society FSB acquired a new position in EnLink Midstream in the third quarter valued at about $98,000. Icon Wealth Advisors LLC acquired a new position in EnLink Midstream in the third quarter valued at about $107,000. Sunbelt Securities Inc. grew its stake in EnLink Midstream by 21.9% during the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after buying an additional 1,511 shares during the last quarter. Finally, Inscription Capital LLC acquired a new stake in shares of EnLink Midstream during the third quarter worth approximately $154,000. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Performance

ENLC stock opened at $14.47 on Friday. The firm has a 50 day moving average of $14.94 and a two-hundred day moving average of $14.32. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $16.40. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 68.90 and a beta of 2.43. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 earnings per share. As a group, equities analysts anticipate that EnLink Midstream will post 0.51 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s payout ratio is presently 252.38%.

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.