EnLink Midstream (NYSE:ENLC) Price Target Raised to $16.00

EnLink Midstream (NYSE:ENLC – Get Rating) had its target price hoisted by Raymond James from $14.00 to $16.00 in a research report report published on Monday, Benzinga reports. Raymond James currently has an outperform rating on the pipeline company’s stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley lifted their target price on EnLink Midstream from $14.00 to $18.00 and gave the stock an overweight rating in a report on Monday, January 9th. Citigroup assumed coverage on shares of EnLink Midstream in a research report on Thursday, December 8th. They set a neutral rating and a $13.00 price objective on the stock. StockNews.com lowered shares of EnLink Midstream from a buy rating to a hold rating in a report on Thursday, December 29th. Stifel Nicolaus started coverage on shares of EnLink Midstream in a report on Tuesday, September 27th. They set a buy rating and a $12.50 price target on the stock. Finally, Royal Bank of Canada raised their price objective on shares of EnLink Midstream from $12.00 to $14.00 and gave the stock a sector perform rating in a research note on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, EnLink Midstream has an average rating of Hold and a consensus price target of $13.64.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $12.97 on Monday. EnLink Midstream has a 52-week low of $7.15 and a 52-week high of $13.58. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 24.94 and a beta of 2.60. The firm’s fifty day moving average is $12.34 and its 200 day moving average is $10.89. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.58.

EnLink Midstream (NYSE:ENLC – Get Rating) last announced its earnings results on Tuesday, November 1st. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.06 billion. EnLink Midstream had a net margin of 2.63% and a return on equity of 8.93%. Sell-side analysts forecast that EnLink Midstream will post 0.61 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Shareholders of record on Monday, January 30th will be paid a $0.125 dividend. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.11. This represents a $0.50 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Friday, January 27th. EnLink Midstream’s dividend payout ratio is currently 86.54%.

Insider Activity

In related news, Director Kyle D. Vann sold 13,500 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $12.16, for a total value of $164,160.00. Following the transaction, the director now owns 171,631 shares of the company’s stock, valued at $2,087,032.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

Several hedge funds have recently made changes to their positions in ENLC. Envestnet Asset Management Inc. raised its holdings in shares of EnLink Midstream by 4.4% in the third quarter. Envestnet Asset Management Inc. now owns 20,695 shares of the pipeline company’s stock valued at $184,000 after acquiring an additional 878 shares in the last quarter. CWM LLC raised its holdings in shares of EnLink Midstream by 45.2% in the 3rd quarter. CWM LLC now owns 3,291 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 1,025 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of EnLink Midstream by 0.7% in the 3rd quarter. California State Teachers Retirement System now owns 228,573 shares of the pipeline company’s stock worth $2,032,000 after purchasing an additional 1,501 shares during the period. First Dallas Securities Inc. boosted its stake in shares of EnLink Midstream by 0.5% during the third quarter. First Dallas Securities Inc. now owns 321,132 shares of the pipeline company’s stock valued at $2,855,000 after purchasing an additional 1,574 shares in the last quarter. Finally, Pinnacle Holdings LLC increased its holdings in EnLink Midstream by 0.8% during the first quarter. Pinnacle Holdings LLC now owns 219,272 shares of the pipeline company’s stock valued at $2,116,000 after buying an additional 1,662 shares during the period. 44.37% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

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EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.