EnLink Midstream (NYSE:ENLC) Shares Gap Up to $4.42

Shares of EnLink Midstream LLC (NYSE:ENLC) gapped up before the market opened on Thursday . The stock had previously closed at $4.31, but opened at $4.42. EnLink Midstream shares last traded at $4.47, with a volume of 2,849,420 shares traded.

A number of research firms recently issued reports on ENLC. TheStreet downgraded EnLink Midstream from a “c-” rating to a “d+” rating in a report on Friday, November 15th. Zacks Investment Research cut EnLink Midstream from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Barclays reaffirmed a “neutral” rating on shares of EnLink Midstream in a research report on Wednesday, November 20th. Credit Suisse Group downgraded EnLink Midstream from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $13.50 to $8.00 in a research report on Monday, August 19th. Finally, UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $7.00 in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $10.32.

The company has a market cap of $2.32 billion, a P/E ratio of -63.86, a PEG ratio of 4.85 and a beta of 1.95. The company has a fifty day moving average price of $5.77 and a two-hundred day moving average price of $8.30. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.95 and a current ratio of 0.95.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.77 billion. EnLink Midstream had a negative net margin of 3.48% and a negative return on equity of 0.09%. EnLink Midstream’s revenue was down 33.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. Research analysts anticipate that EnLink Midstream LLC will post 0.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Monday, October 28th were paid a dividend of $0.283 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 25.32%. The ex-dividend date of this dividend was Friday, October 25th. EnLink Midstream’s dividend payout ratio is currently -1,614.29%.

In other news, Director Kyle D. Vann purchased 10,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $4.87 per share, with a total value of $48,700.00. Following the completion of the transaction, the director now owns 124,907 shares of the company’s stock, valued at approximately $608,297.09. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.45% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ENLC. Cullen Frost Bankers Inc. raised its stake in EnLink Midstream by 34.7% in the second quarter. Cullen Frost Bankers Inc. now owns 4,648 shares of the pipeline company’s stock valued at $47,000 after buying an additional 1,198 shares during the period. M&T Bank Corp bought a new stake in EnLink Midstream in the 2nd quarter valued at $103,000. Virtu Financial LLC raised its stake in EnLink Midstream by 20.4% in the 3rd quarter. Virtu Financial LLC now owns 13,760 shares of the pipeline company’s stock valued at $117,000 after acquiring an additional 2,335 shares during the period. Sunbelt Securities Inc. bought a new stake in EnLink Midstream in the 2nd quarter valued at $119,000. Finally, GSA Capital Partners LLP acquired a new stake in EnLink Midstream during the 2nd quarter valued at $123,000. Institutional investors and hedge funds own 46.82% of the company’s stock.

EnLink Midstream Company Profile (NYSE:ENLC)

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.

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