Brokerages Set EnLink Midstream, LLC (NYSE:ENLC) Target Price at $14.43

EnLink Midstream, LLC (NYSE:ENLC) has received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.43.

A number of brokerages have weighed in on ENLC. Capital One Financial began coverage on EnLink Midstream in a report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 target price on the stock. StockNews.com downgraded EnLink Midstream from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. cut their price objective on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Finally, UBS Group raised their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 18th.

Insider Buying and Selling

In related news, CFO Benjamin D. Lamb sold 250,552 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the transaction, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the transaction, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value of $616,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at $719,611.20. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ENLC. Headlands Technologies LLC bought a new stake in EnLink Midstream in the 4th quarter valued at about $27,000. National Bank of Canada FI bought a new stake in EnLink Midstream in the 3rd quarter valued at about $28,000. Comerica Bank bought a new stake in EnLink Midstream in the 2nd quarter valued at about $250,000. JNBA Financial Advisors bought a new stake in EnLink Midstream in the 4th quarter valued at about $30,000. Finally, Sunbelt Securities Inc. increased its position in EnLink Midstream by 232.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock valued at $67,000 after buying an additional 3,837 shares in the last quarter. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $13.87 on Friday. The stock’s fifty day moving average price is $12.64 and its two-hundred day moving average price is $12.53. EnLink Midstream has a one year low of $8.45 and a one year high of $14.18. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $6.29 billion, a PE ratio of 31.52 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. As a group, research analysts expect that EnLink Midstream will post 0.6 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Monday, January 29th were given a dividend of $0.1325 per share. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.82%. The ex-dividend date was Friday, January 26th. EnLink Midstream’s dividend payout ratio (DPR) is currently 120.46%.

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.