EnLink Midstream’s (ENLC) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of EnLink Midstream (NYSE:ENLC) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $15.00 price target on the pipeline company’s stock.

Several other analysts have also commented on ENLC. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Capital One Financial reiterated an “equal weight” rating and issued a $16.00 price target on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $16.00 to $15.00 in a research report on Friday, August 30th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Friday, August 30th. Nine 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Performance

ENLC stock opened at $15.75 on Thursday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 75.00 and a beta of 2.41. The business’s fifty day simple moving average is $14.89 and its two-hundred day simple moving average is $13.95. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $15.85. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was down 7.9% compared to the same quarter last year. Analysts predict that EnLink Midstream will post 0.55 earnings per share for the current year.

EnLink Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.37%. EnLink Midstream’s payout ratio is currently 252.38%.

Insider Activity at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of EnLink Midstream in the second quarter valued at $28,000. Newbridge Financial Services Group Inc. acquired a new position in shares of EnLink Midstream during the second quarter worth about $56,000. SG Americas Securities LLC acquired a new stake in EnLink Midstream in the first quarter valued at approximately $105,000. First Horizon Advisors Inc. grew its holdings in EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 853 shares in the last quarter. Finally, Icon Wealth Advisors LLC acquired a new stake in shares of EnLink Midstream in the 3rd quarter valued at $107,000. 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.