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

EnLink Midstream, LLC (NYSE:ENLC) has earned an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.40.

ENLC has been the subject of several research analyst reports. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Tudor, Pickering, Holt & Co. upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, August 16th. Royal Bank of Canada restated a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, August 29th. Finally, Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a report on Monday, September 16th.

Insider Buying and Selling

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a filing with the SEC, which is available through this link. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zimmer Partners LP purchased a new position in shares of EnLink Midstream in the 3rd quarter valued at $363,000. Brookfield Corp ON increased its holdings in shares of EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after acquiring an additional 1,775,203 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of EnLink Midstream in the 3rd quarter valued at $174,000. Wellington Management Group LLP increased its holdings in shares of EnLink Midstream by 268.0% in the 3rd quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock valued at $5,834,000 after acquiring an additional 292,833 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of EnLink Midstream by 57.4% in the 3rd quarter. Two Sigma Advisers LP now owns 1,181,021 shares of the pipeline company’s stock valued at $17,137,000 after acquiring an additional 430,600 shares during the period. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Stock Up 1.1 %

NYSE ENLC opened at $15.50 on Friday. The stock’s 50-day moving average price is $14.75 and its 200-day moving average price is $13.84. The company has a quick ratio of 0.65, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. EnLink Midstream has a 52 week low of $11.53 and a 52 week high of $15.67. The company has a market capitalization of $7.15 billion, a P/E ratio of 73.79 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) 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 during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business earned $0.10 EPS. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts predict that EnLink Midstream will post 0.55 earnings per share for the current year.

EnLink Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 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.