EnLink Midstream, LLC (NYSE:ENLC) Receives $15.33 Average PT from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.33.

Several equities research analysts have commented on ENLC shares. Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Wells Fargo & Company downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, August 16th. Capital One Financial reiterated an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Friday, August 30th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in EnLink Midstream by 1.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock worth $194,126,000 after purchasing an additional 186,801 shares during the last quarter. Chickasaw Capital Management LLC lifted its holdings in EnLink Midstream by 5.5% in the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock worth $200,924,000 after acquiring an additional 759,994 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 during the period. Hennessy Advisors Inc. raised its position in shares of EnLink Midstream by 17.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 2,477,000 shares of the pipeline company’s stock worth $34,084,000 after purchasing an additional 360,400 shares during the period. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of EnLink Midstream by 4.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock worth $32,363,000 after purchasing an additional 106,467 shares during the last quarter. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $14.51 on Friday. The firm’s 50-day moving average is $13.71 and its two-hundred day moving average is $13.51. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $6.55 billion, a P/E ratio of 41.46 and a beta of 2.40. EnLink Midstream has a 12-month low of $11.44 and a 12-month high of $14.80.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 EPS. Equities analysts predict that EnLink Midstream will post 0.59 earnings per share for the current year.

EnLink Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were paid a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, August 2nd. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio is 151.43%.

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.