EnLink Midstream (NYSE:ENLC) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report report published on Tuesday. The brokerage issued a hold rating on the pipeline company’s stock.

Several other brokerages have also weighed in on ENLC. US Capital Advisors lowered EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Mizuho reaffirmed a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, October 31st. UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research report on Monday, September 30th. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Up 0.1 %

EnLink Midstream stock opened at $14.31 on Tuesday. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 68.14 and a beta of 2.43. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. EnLink Midstream has a 52 week low of $11.53 and a 52 week high of $16.40. The company’s 50-day moving average price is $14.95 and its two-hundred day moving average price is $14.31.

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

EnLink Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 dividend on an annualized basis and a dividend yield of 3.70%. EnLink Midstream’s payout ratio is 252.38%.

Insider Buying and Selling at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Merewether Investment Management LP bought a new stake in EnLink Midstream in the third quarter worth $64,477,000. HITE Hedge Asset Management LLC increased its holdings in EnLink Midstream by 2,629.4% during the second quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock valued at $27,560,000 after buying an additional 1,929,551 shares during the last quarter. Brookfield Corp ON lifted 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 purchasing an additional 1,775,203 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in 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 worth $30,348,000 after acquiring an additional 1,141,254 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in EnLink Midstream by 32.4% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock worth $48,236,000 after buying an additional 812,767 shares during the period. 45.87% of the stock is 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.