EnLink Midstream (NYSE:ENLC) Upgraded at Mizuho

Mizuho upgraded shares of EnLink Midstream (NYSE:ENLC) to a hold rating in a research report report published on Wednesday, Zacks.com reports.

Other analysts have also issued research reports about the stock. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, August 16th. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Monday, September 30th. Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $16.00 to $15.00 in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $14.70 on Wednesday. EnLink Midstream has a 1 year low of $11.53 and a 1 year high of $14.96. The firm has a 50 day moving average of $14.51 and a 200-day moving average of $13.73. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $6.78 billion, a P/E ratio of 49.00 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 analysts’ consensus estimates of $0.13 by ($0.06). The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. As a group, sell-side analysts anticipate that EnLink Midstream will post 0.58 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.1325 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.61%. EnLink Midstream’s dividend payout ratio is currently 176.67%.

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 dated 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 853 shares during the period. First Dallas Securities Inc. grew its stake in EnLink Midstream by 0.6% in the 2nd quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock valued at $2,182,000 after buying an additional 960 shares during the last quarter. Callahan Advisors LLC grew its stake in EnLink Midstream by 8.7% in the 2nd quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after buying an additional 1,000 shares during the last quarter. Bank of New York Mellon Corp grew its stake in EnLink Midstream by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock valued at $191,000 after buying an additional 1,151 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares during the last quarter. 45.87% of the stock is owned by 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.