EnLink Midstream’s (ENLC) “Equal Weight” Rating Reaffirmed at Capital One Financial

Capital One Financial reissued their equal weight rating on shares of EnLink Midstream (NYSE:ENLC) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a $16.00 target price on the pipeline company’s stock.

ENLC has been the subject of several other research reports. Morgan Stanley upped their target price on shares of EnLink Midstream from $15.00 to $16.00 and gave the stock an overweight rating in a research note on Tuesday, August 27th. Wells Fargo & Company downgraded 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 note on Friday, August 30th. Tudor Pickering upgraded EnLink Midstream to a strong-buy rating in a research note on Friday, August 16th. Stifel Nicolaus lowered shares of EnLink Midstream from a buy rating to a hold rating and set a $15.00 price target for the company. in a research report on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, August 29th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EnLink Midstream presently has an average rating of Moderate Buy and a consensus price target of $15.20.

EnLink Midstream Stock Performance

Shares of ENLC opened at $14.17 on Tuesday. The stock has a 50-day moving average of $13.53 and a 200-day moving average of $13.29. EnLink Midstream has a one year low of $11.44 and a one year high of $14.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $6.54 billion, a PE ratio of 40.49 and a beta of 2.40.

EnLink Midstream (NYSE:ENLC) last issued its 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). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the company earned $0.12 earnings per share. EnLink Midstream’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts predict that EnLink Midstream will post 0.59 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were paid a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 2nd. EnLink Midstream’s payout ratio is presently 151.43%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC increased its position in shares of 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 worth $27,560,000 after purchasing an additional 1,929,551 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in EnLink Midstream by 1,614.2% during the fourth quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock worth $22,721,000 after purchasing an additional 1,759,500 shares during the last quarter. Chickasaw Capital Management LLC lifted its stake in EnLink Midstream by 5.5% during the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock worth $200,924,000 after purchasing an additional 759,994 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of EnLink Midstream by 1,433.6% in the 2nd quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock worth $6,850,000 after purchasing an additional 465,383 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of EnLink Midstream by 22.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after purchasing an additional 416,424 shares during the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

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.