EnLink Midstream, LLC (NYSE:ENLC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

EnLink Midstream, LLC (NYSE:ENLC) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.33.

A number of research analysts have recently commented on the company. Citigroup raised their target price on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. reduced their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. UBS Group boosted their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Capital One Financial assumed coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They set an “overweight” rating and a $15.00 target price for the company.

EnLink Midstream Stock Down 0.6 %

Shares of NYSE ENLC opened at $12.80 on Tuesday. The firm has a fifty day simple moving average of $13.23 and a two-hundred day simple moving average of $12.70. EnLink Midstream has a 12 month low of $8.45 and a 12 month high of $14.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $5.80 billion, a PE ratio of 36.57 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.45%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Equities analysts expect that EnLink Midstream will post 0.6 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, April 26th will be issued a $0.132 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.13%. EnLink Midstream’s payout ratio is 151.43%.

Insider Transactions at EnLink Midstream

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

Institutional Investors Weigh In On EnLink Midstream

Several hedge funds have recently added to or reduced their stakes in ENLC. First Horizon Advisors Inc. increased its stake in shares of EnLink Midstream by 14.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock valued at $84,000 after purchasing an additional 885 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 1,343 shares during the period. Glenmede Trust Co. NA lifted its stake in EnLink Midstream by 2.4% in the third quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock worth $795,000 after acquiring an additional 1,494 shares during the last quarter. Lee Financial Co raised its stake in EnLink Midstream by 2.2% in the third quarter. Lee Financial Co now owns 80,655 shares of the pipeline company’s stock valued at $986,000 after buying an additional 1,737 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in EnLink Midstream by 8.6% in the third quarter. Lindbrook Capital LLC now owns 26,404 shares of the pipeline company’s stock valued at $323,000 after purchasing an additional 2,087 shares during the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

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.