EnLink Midstream (NYSE:ENLC) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of EnLink Midstream (NYSE:ENLC) from a buy rating to a hold rating in a report published on Tuesday morning.

Several other equities analysts also recently commented on the stock. Capital One Financial began coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They issued an overweight rating and a $15.00 price objective on the stock. Citigroup upped their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, EnLink Midstream has an average rating of Moderate Buy and an average price target of $14.33.

EnLink Midstream Stock Down 0.1 %

Shares of ENLC stock opened at $13.84 on Tuesday. The firm’s fifty day moving average price is $13.25 and its two-hundred day moving average price is $12.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. EnLink Midstream has a 1 year low of $10.59 and a 1 year high of $14.18. The firm has a market capitalization of $6.25 billion, a P/E ratio of 39.54 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. On average, equities 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. 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 3.82%. The ex-dividend date of this dividend was Thursday, April 25th. EnLink Midstream’s payout ratio is 151.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of EnLink Midstream in the 4th quarter valued at about $27,000. JNBA Financial Advisors acquired a new position in shares of EnLink Midstream in the fourth quarter worth approximately $30,000. Sunbelt Securities Inc. boosted its holdings in EnLink Midstream by 232.4% in the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock valued at $67,000 after acquiring an additional 3,837 shares during the last quarter. UMB Bank n.a. increased its position in EnLink Midstream by 198.8% during the 4th quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock valued at $72,000 after purchasing an additional 3,965 shares during the period. Finally, SG Americas Securities LLC bought a new position in EnLink Midstream during the 1st quarter worth approximately $105,000. 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.