Analysts Set EnLink Midstream, LLC (NYSE:ENLC) Price Target at $15.44

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $15.44.

Several research analysts recently issued reports on ENLC shares. JPMorgan Chase & Co. increased their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, August 29th. Stifel Nicolaus downgraded EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research note on Friday, August 30th. Wells Fargo & Company cut 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 note on Friday, August 30th. Finally, Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday, August 16th.

EnLink Midstream Stock Performance

EnLink Midstream stock opened at $14.74 on Tuesday. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $14.84. The stock’s 50 day simple moving average is $14.29 and its two-hundred day simple moving average is $13.68. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 49.13 and a beta of 2.40.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. EnLink Midstream’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, analysts expect that EnLink Midstream will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.1325 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.60%. EnLink Midstream’s payout ratio is 176.67%.

Insiders Place Their Bets

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently modified their holdings of the company. Counterpoint Mutual Funds LLC purchased a new position in EnLink Midstream in the first quarter worth about $690,000. Davis Investment Partners LLC grew its position in EnLink Midstream by 21.6% during the first quarter. Davis Investment Partners LLC now owns 20,124 shares of the pipeline company’s stock valued at $278,000 after buying an additional 3,579 shares during the period. Sunbelt Securities Inc. increased its holdings in EnLink Midstream by 24.2% during the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after buying an additional 1,343 shares during the last quarter. Hennessy Advisors Inc. raised its position in EnLink Midstream by 13.3% in the first quarter. Hennessy Advisors Inc. now owns 2,116,600 shares of the pipeline company’s stock worth $28,870,000 after acquiring an additional 248,100 shares during the period. Finally, Maryland State Retirement & Pension System raised its position in EnLink Midstream by 1.9% in the first quarter. Maryland State Retirement & Pension System now owns 202,971 shares of the pipeline company’s stock worth $2,732,000 after acquiring an additional 3,842 shares during the period. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

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.