EnLink Midstream (NYSE:ENLC) Upgraded by Tudor, Pickering, Holt & Co. to Buy

Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a research note released on Friday morning, Marketbeat reports. Tudor, Pickering, Holt & Co. currently has $15.00 target price on the pipeline company’s stock.

Several other equities analysts also recently commented on ENLC. Wells Fargo & Company raised EnLink Midstream from an equal weight rating to an overweight rating and upped their target price for the company from $13.00 to $17.00 in a research report on Monday, July 8th. JPMorgan Chase & Co. upped their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a neutral rating in a report on Wednesday, July 10th. Finally, StockNews.com raised EnLink Midstream from a hold rating to a buy rating in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $15.29.

EnLink Midstream Stock Performance

Shares of ENLC stock opened at $13.69 on Friday. The company has a fifty day moving average price of $13.40 and a two-hundred day moving average price of $13.13. EnLink Midstream has a one year low of $11.44 and a one year high of $14.38. The stock has a market cap of $6.18 billion, a P/E ratio of 39.11 and a beta of 2.43. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the business earned $0.12 earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that EnLink Midstream will post 0.61 EPS for the current year.

EnLink Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were given a dividend of $0.1325 per share. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 2nd. This represents a $0.53 annualized dividend and a dividend yield of 3.87%. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

Institutional Trading of EnLink Midstream

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in EnLink Midstream during the 4th quarter worth approximately $27,000. ORG Partners LLC bought a new stake in EnLink Midstream in the second quarter valued at approximately $28,000. JNBA Financial Advisors bought a new position in EnLink Midstream during the fourth quarter worth $30,000. Sunbelt Securities Inc. raised its position in shares of EnLink Midstream by 24.2% in the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after acquiring an additional 1,343 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in EnLink Midstream during the first quarter worth approximately $105,000. 45.87% of the stock is currently owned by 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.