EnLink Midstream, LLC (NYSE:ENLC) Given Average Recommendation of “Hold” by Brokerages

EnLink Midstream, LLC (NYSE:ENLC) has been given a consensus rating of “Hold” by the thirteen research firms that are presently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $15.40.

Several analysts recently commented on ENLC shares. StockNews.com began coverage on EnLink Midstream in a research note on Saturday. They set a “hold” rating on the stock. Morgan Stanley downgraded 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. Wells Fargo & Company cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $16.00 to $15.00 in a report on Friday, August 30th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research note on Monday, September 30th. Finally, Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th.

EnLink Midstream Stock Down 1.0 %

Shares of EnLink Midstream stock opened at $14.33 on Wednesday. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $16.40. The business has a fifty day simple moving average of $15.10 and a 200 day simple moving average of $14.20. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a market cap of $6.55 billion, a PE ratio of 68.24 and a beta of 2.44.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. EnLink Midstream’s quarterly revenue was down 7.9% compared to the same quarter last year. Research analysts predict that EnLink Midstream will post 0.51 EPS for the current year.

EnLink Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.70%. EnLink Midstream’s dividend payout ratio is currently 252.38%.

Insider Transactions at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of EnLink Midstream by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock valued at $93,884,000 after acquiring an additional 133,327 shares in the last quarter. Merewether Investment Management LP acquired a new position in shares of EnLink Midstream during the 3rd quarter worth approximately $64,477,000. Brookfield Corp ON grew its position in shares of EnLink Midstream by 97.1% during the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock worth $52,285,000 after purchasing an additional 1,775,203 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of EnLink Midstream by 32.4% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock valued at $48,236,000 after buying an additional 812,767 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its stake in shares of EnLink Midstream by 17.0% in the second quarter. Hennessy Advisors Inc. now owns 2,477,000 shares of the pipeline company’s stock valued at $34,084,000 after buying an additional 360,400 shares during the period. Institutional investors own 45.87% of the company’s stock.

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.