EnLink Midstream (NYSE:ENLC) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a research report released on Friday morning.

Other research analysts also recently issued research reports about the stock. Citigroup upped their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a buy rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a research note on Thursday, February 29th. UBS Group upped their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the company 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 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $14.63.

EnLink Midstream Trading Up 0.8 %

Shares of EnLink Midstream stock opened at $13.59 on Friday. The firm has a 50-day simple moving average of $12.97 and a two-hundred day simple moving average of $12.61. The company has a market cap of $6.16 billion, a P/E ratio of 30.89 and a beta of 2.39. EnLink Midstream has a fifty-two week low of $8.45 and a fifty-two week high of $14.18. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84.

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

EnLink Midstream Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be paid a $0.132 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 annualized dividend and a dividend yield of 3.89%. EnLink Midstream’s dividend payout ratio (DPR) is 120.46%.

Insider Activity

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

Hedge Funds Weigh In On EnLink Midstream

Several large investors have recently made changes to their positions in the stock. Alps Advisors Inc. lifted its holdings in shares of EnLink Midstream by 11.0% in the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after acquiring an additional 4,200,733 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in EnLink Midstream by 14.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 17,018,195 shares of the pipeline company’s stock worth $180,393,000 after buying an additional 2,189,358 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in EnLink Midstream by 70.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock worth $152,247,000 after buying an additional 5,152,252 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in EnLink Midstream by 7.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,225,310 shares of the pipeline company’s stock worth $108,324,000 after buying an additional 746,457 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in EnLink Midstream by 27.7% during the 3rd quarter. Morgan Stanley now owns 6,731,813 shares of the pipeline company’s stock worth $82,263,000 after buying an additional 1,458,984 shares in 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.