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

Shares of EnLink Midstream, LLC (NYSE:ENLC) have earned a consensus rating of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.40.

ENLC has been the subject of a number of research reports. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, November 21st. StockNews.com started coverage on EnLink Midstream in a report on Monday, December 30th. They set a “hold” rating on the stock. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research report on Monday, September 16th. Finally, US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th.

EnLink Midstream Trading Up 1.2 %

EnLink Midstream stock opened at $14.50 on Friday. EnLink Midstream has a 1 year low of $11.53 and a 1 year high of $16.40. The firm’s 50-day moving average is $14.97 and its 200-day moving average is $14.28. The company has a market cap of $6.63 billion, a P/E ratio of 69.05 and a beta of 2.43. 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 (NYSE:ENLC) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, equities analysts expect that EnLink Midstream will post 0.51 earnings per share for the current year.

EnLink Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.1325 per share. The ex-dividend date was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.66%. EnLink Midstream’s dividend payout ratio (DPR) is currently 252.38%.

Insider Activity at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in EnLink Midstream by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock valued at $191,000 after buying an additional 1,151 shares during the period. Van ECK Associates Corp raised its position in shares of EnLink Midstream by 73.8% during the 2nd quarter. Van ECK Associates Corp now owns 63,465 shares of the pipeline company’s stock valued at $873,000 after acquiring an additional 26,952 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of EnLink Midstream by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 1,586,315 shares of the pipeline company’s stock valued at $21,828,000 after purchasing an additional 10,296 shares during the period. Dimensional Fund Advisors LP lifted 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 buying an additional 133,327 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in EnLink Midstream by 64.4% during the 2nd quarter. Hsbc Holdings PLC now owns 33,646 shares of the pipeline company’s stock worth $459,000 after acquiring an additional 13,183 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.