StockNews.com Initiates Coverage on EnLink Midstream (NYSE:ENLC)

StockNews.com began coverage on shares of EnLink Midstream (NYSE:ENLC) in a research note issued to investors on Sunday morning. The firm issued a hold rating on the pipeline company’s stock.

Several other brokerages have also recently issued reports on ENLC. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Friday, August 30th. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a research note on Monday, September 16th. Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $16.00 to $15.00 in a research report on Friday, August 30th. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Raymond James cut shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Up 1.5 %

Shares of NYSE ENLC opened at $14.41 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a market cap of $6.59 billion, a PE ratio of 68.62 and a beta of 2.44. The business has a 50-day moving average price of $15.04 and a 200 day moving average price of $14.23. EnLink Midstream has a 52-week low of $11.53 and a 52-week high of $16.40.

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 analyst estimates of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Equities research analysts forecast that EnLink Midstream will post 0.51 earnings per share for the current 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 issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 252.38%.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of EnLink Midstream during the 2nd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB acquired a new stake in EnLink Midstream during the 3rd quarter valued at $98,000. Icon Wealth Advisors LLC acquired a new stake in EnLink Midstream during the 3rd quarter valued at $107,000. Sunbelt Securities Inc. increased its position in EnLink Midstream by 21.9% during the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after buying an additional 1,511 shares in the last quarter. Finally, Inscription Capital LLC acquired a new position in shares of EnLink Midstream in the third quarter worth $154,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.