EnLink Midstream (NYSE:ENLC) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of EnLink Midstream (NYSE:ENLC) in a research note released on Tuesday morning. The firm issued a hold rating on the pipeline company’s stock.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, November 21st. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Raymond James cut shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Mizuho reiterated a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Up 1.0 %

Shares of EnLink Midstream stock opened at $14.47 on Tuesday. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The company’s 50 day moving average is $14.94 and its 200 day moving average is $14.32. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 68.90 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company earned $0.10 earnings per share. EnLink Midstream’s quarterly revenue was down 7.9% compared to the same quarter last year. Research analysts anticipate that EnLink Midstream will post 0.51 EPS for the current year.

EnLink Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.1325 per share. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a yield of 3.66%. EnLink Midstream’s dividend payout ratio is presently 252.38%.

Insider Activity

In other 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 value of $2,985,077,219.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

Institutional investors have recently bought and sold shares of the stock. Merewether Investment Management LP purchased a new stake in shares of EnLink Midstream during the 3rd quarter worth approximately $64,477,000. HITE Hedge Asset Management LLC raised its stake in EnLink Midstream by 2,629.4% during the second quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock valued at $27,560,000 after purchasing an additional 1,929,551 shares in the last quarter. Brookfield Corp ON raised its stake in EnLink Midstream by 97.1% during the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after purchasing an additional 1,775,203 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after purchasing an additional 1,141,254 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of EnLink Midstream by 32.4% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock worth $48,236,000 after buying an additional 812,767 shares in the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

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.