EnLink Midstream (NYSE:ENLC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of EnLink Midstream (NYSE:ENLC) from a buy rating to a hold rating in a report released on Tuesday.

ENLC has been the subject of a number of other reports. Citigroup boosted their target price on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Capital One Financial began coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They set an overweight rating and a $15.00 target price for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, EnLink Midstream currently has an average rating of Moderate Buy and a consensus target price of $14.33.

EnLink Midstream Stock Performance

ENLC stock opened at $13.81 on Tuesday. The stock has a market capitalization of $6.23 billion, a PE ratio of 39.63 and a beta of 2.43. EnLink Midstream has a 12-month low of $10.59 and a 12-month high of $14.18. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. The stock’s 50 day simple moving average is $13.26 and its 200 day simple moving average is $12.86.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. As a group, research analysts forecast that EnLink Midstream will post 0.62 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th were paid a $0.132 dividend. The ex-dividend date was Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a yield of 3.82%. EnLink Midstream’s payout ratio is presently 151.43%.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. boosted its holdings in shares of EnLink Midstream by 24.2% during the 1st 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. Glenmede Trust Co. NA boosted its holdings in shares of EnLink Midstream by 2.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock valued at $795,000 after purchasing an additional 1,494 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of EnLink Midstream by 14.9% during the 1st quarter. Cetera Advisors LLC now owns 15,589 shares of the pipeline company’s stock valued at $213,000 after purchasing an additional 2,025 shares during the last quarter. Comerica Bank boosted its holdings in shares of EnLink Midstream by 16.2% during the 1st quarter. Comerica Bank now owns 14,793 shares of the pipeline company’s stock valued at $202,000 after purchasing an additional 2,063 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of EnLink Midstream during the 4th quarter valued at about $27,000. Hedge funds and other 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.