EnLink Midstream (NYSE:ENLC) Upgraded to “Buy” at StockNews.com

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

Several other brokerages have also issued reports on ENLC. Capital One Financial started coverage on EnLink Midstream in a research report on Friday, March 22nd. They set an overweight rating and a $15.00 target price for the company. JPMorgan Chase & Co. dropped their target price on EnLink Midstream from $15.00 to $14.00 and set a neutral rating on the stock in a research report on Thursday, February 29th. Finally, Citigroup upped their price target on EnLink Midstream from $13.00 to $16.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $14.33.

EnLink Midstream Trading Up 1.9 %

Shares of ENLC stock opened at $13.42 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 38.33 and a beta of 2.36. EnLink Midstream has a 12-month low of $9.88 and a 12-month high of $14.18. The stock’s 50-day moving average price is $13.23 and its 200-day moving average price is $12.79.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. Equities research analysts predict 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. Shareholders of record on Friday, April 26th were paid a dividend of $0.132 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $0.53 annualized dividend and a yield of 3.94%. EnLink Midstream’s payout ratio is presently 151.43%.

Hedge Funds Weigh In On EnLink Midstream

Several hedge funds and other institutional investors have recently bought and sold shares of ENLC. Alps Advisors Inc. grew its holdings in EnLink Midstream by 11.0% during the third 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 period. Hennessy Advisors Inc. increased its holdings in EnLink Midstream by 1,614.2% in the fourth quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after buying an additional 1,759,500 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of 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 valued at $30,629,000 after acquiring an additional 416,424 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of 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 valued at $37,618,000 after acquiring an additional 378,450 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in EnLink Midstream by 56.6% in 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 period. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.