EnLink Midstream, LLC (NYSE:ENLC) Receives Average Rating of “Moderate Buy” from Analysts

EnLink Midstream, LLC (NYSE:ENLC) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.33.

Several equities research analysts have weighed in on ENLC shares. JPMorgan Chase & Co. cut their target price on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Citigroup upped their target price on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com cut EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Capital One Financial started coverage on 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 Trading Up 1.5 %

Shares of NYSE:ENLC opened at $13.10 on Wednesday. The company has a market capitalization of $5.91 billion, a P/E ratio of 37.43 and a beta of 2.36. EnLink Midstream has a 1 year low of $9.52 and a 1 year high of $14.18. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78. The business’s 50 day simple moving average is $13.27 and its 200 day simple moving average is $12.79.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. On average, research analysts anticipate that EnLink Midstream will post 0.62 EPS for the current fiscal year.

EnLink Midstream Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th were paid a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, April 25th. EnLink Midstream’s payout ratio is 151.43%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Alps Advisors Inc. raised its position in EnLink Midstream by 11.0% during the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after purchasing an additional 4,200,733 shares during the last quarter. Hennessy Advisors Inc. raised its position in EnLink Midstream by 1,614.2% during the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock worth $22,721,000 after purchasing an additional 1,759,500 shares during the last quarter. Westwood Holdings Group Inc. raised its position in EnLink Midstream by 22.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock worth $30,629,000 after purchasing an additional 416,424 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in EnLink Midstream by 13.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company’s stock worth $37,618,000 after purchasing an additional 378,450 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in EnLink Midstream by 56.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,034,809 shares of the pipeline company’s stock worth $12,583,000 after purchasing an additional 373,969 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors.

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.