EnLink Midstream’s (ENLC) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of EnLink Midstream (NYSE:ENLC) in a report published on Thursday,Benzinga reports. They currently have a $15.00 price target on the pipeline company’s stock.

Several other equities analysts have also weighed in on ENLC. Mizuho restated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Friday, August 30th. Tudor, Pickering, Holt & Co. upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday, August 16th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Finally, Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EnLink Midstream currently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Price Performance

NYSE ENLC opened at $15.75 on Thursday. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $15.85. The firm has a market capitalization of $7.20 billion, a PE ratio of 75.00 and a beta of 2.41. The company’s 50 day simple moving average is $14.89 and its 200 day simple moving average is $13.94. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last issued its quarterly 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). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. As a group, equities research analysts forecast that EnLink Midstream will post 0.55 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.1325 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.37%. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

Insider Activity

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were 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 SEC, which can be accessed through this link. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of EnLink Midstream

Institutional investors have recently bought and sold shares of the company. Zimmer Partners LP purchased a new stake in shares of EnLink Midstream during the 3rd quarter worth about $363,000. Brookfield Corp ON raised its position in EnLink Midstream by 97.1% during the third 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 in the last quarter. EP Wealth Advisors LLC acquired a new stake in EnLink Midstream in the third quarter valued at approximately $174,000. Wellington Management Group LLP grew its position in EnLink Midstream by 268.0% in the third quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock worth $5,834,000 after acquiring an additional 292,833 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of EnLink Midstream by 57.4% during the 3rd quarter. Two Sigma Advisers LP now owns 1,181,021 shares of the pipeline company’s stock worth $17,137,000 after purchasing an additional 430,600 shares during the last quarter. Institutional investors and hedge funds 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.