EnLink Midstream (NYSE:ENLC) Downgraded by StockNews.com

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

A number of other equities analysts have also recently issued reports on the company. Capital One Financial started coverage on EnLink Midstream in a report on Friday, March 22nd. They issued an overweight rating and a $15.00 price objective for the company. Citigroup increased their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $14.33.

EnLink Midstream Trading Down 0.1 %

Shares of EnLink Midstream stock opened at $13.84 on Tuesday. The company has a 50 day simple moving average of $13.25 and a two-hundred day simple moving average of $12.85. The firm has a market cap of $6.25 billion, a PE ratio of 39.54 and a beta of 2.43. EnLink Midstream has a 1 year low of $10.59 and a 1 year high of $14.18. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78.

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

EnLink Midstream Cuts Dividend

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

Hedge Funds Weigh In On EnLink Midstream

A number of hedge funds have recently modified their holdings of ENLC. Headlands Technologies LLC purchased a new stake in shares of EnLink Midstream during the fourth quarter worth about $27,000. JNBA Financial Advisors purchased a new stake in EnLink Midstream in the 4th quarter worth approximately $30,000. Sunbelt Securities Inc. grew its position in shares of EnLink Midstream by 232.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after buying an additional 3,837 shares during the last quarter. UMB Bank n.a. increased its stake in shares of EnLink Midstream by 198.8% during the fourth quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock valued at $72,000 after buying an additional 3,965 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of EnLink Midstream during the first quarter valued at approximately $105,000. 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.