EnLink Midstream (NYSE:ENLC) Downgraded by US Capital Advisors to Hold

US Capital Advisors downgraded shares of EnLink Midstream (NYSE:ENLC) from a moderate buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.50 EPS, Q4 2025 earnings at $0.28 EPS, FY2025 earnings at $0.88 EPS and FY2026 earnings at $1.05 EPS.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research note on Monday, September 16th. 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 research note on Friday, August 30th. Capital One Financial restated an “equal weight” rating and issued a $16.00 price target on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Finally, Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Performance

NYSE ENLC opened at $15.85 on Tuesday. The firm has a market capitalization of $7.24 billion, a P/E ratio of 75.48 and a beta of 2.41. The stock has a 50-day simple moving average of $14.99 and a two-hundred day simple moving average of $14.01. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $16.40.

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

EnLink Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s payout ratio is 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

Large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new position in shares of EnLink Midstream during the 1st quarter valued at about $1,453,000. Van ECK Associates Corp lifted its holdings in EnLink Midstream by 100.8% in the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after acquiring an additional 63,997 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in EnLink Midstream by 4.3% during the second quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company’s stock worth $31,016,000 after acquiring an additional 93,587 shares during the last quarter. Westwood Holdings Group Inc. raised its position in EnLink Midstream by 22.8% in the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after purchasing an additional 416,424 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of EnLink Midstream by 120.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after purchasing an additional 1,141,254 shares during the last quarter. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

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.