EnLink Midstream (NYSE:ENLC) Downgraded by US Capital Advisors to Hold

US Capital Advisors downgraded shares of EnLink Midstream (NYSE:ENLC) from a moderate buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.50 EPS and Q4 2025 earnings at $0.28 EPS.

Several other equities research analysts have also recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Mizuho reissued a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, October 31st. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research note on Monday, September 30th. Capital One Financial reissued an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Finally, Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.40.

EnLink Midstream Trading Up 2.0 %

EnLink Midstream stock opened at $15.91 on Tuesday. The stock has a 50-day moving average price of $14.94 and a 200 day moving average price of $13.98. EnLink Midstream has a 52 week low of $11.53 and a 52 week high of $16.40. The stock has a market cap of $7.27 billion, a PE ratio of 75.76 and a beta of 2.41. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30.

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

EnLink Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.1325 dividend. This represents a $0.53 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

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 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 SEC, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EnLink Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Merewether Investment Management LP acquired a new stake in shares of EnLink Midstream during the third quarter valued at about $64,477,000. HITE Hedge Asset Management LLC boosted its holdings in EnLink Midstream by 2,629.4% in 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 during the last quarter. Brookfield Corp ON grew its stake in EnLink Midstream by 97.1% during the 3rd 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 increased its holdings in EnLink Midstream by 120.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after purchasing an additional 1,141,254 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position 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 valued at $48,236,000 after purchasing an additional 812,767 shares in the last quarter. Hedge funds and other institutional investors 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.