StockNews.com Begins Coverage on EnLink Midstream (NYSE:ENLC)

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

A number of other equities analysts have also recently issued reports on ENLC. US Capital Advisors cut shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Capital One Financial reiterated an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a research note on Tuesday, September 3rd. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research report on Monday, September 30th. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research report on Monday, September 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, November 21st. Eleven equities research 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 company. According to MarketBeat, EnLink Midstream currently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Price Performance

Shares of ENLC opened at $14.15 on Monday. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $16.40. The firm’s 50-day simple moving average is $14.99 and its two-hundred day simple moving average is $14.27. The stock has a market cap of $6.47 billion, a PE ratio of 67.38 and a beta of 2.44. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last posted 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). The company had revenue of $1.61 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. Analysts anticipate that EnLink Midstream will post 0.51 earnings per share for the current fiscal year.

EnLink Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

Insider Buying and Selling

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ENLC. Newbridge Financial Services Group Inc. purchased a new stake in EnLink Midstream in the 2nd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB purchased a new position in EnLink Midstream during the third quarter valued at approximately $98,000. Icon Wealth Advisors LLC bought a new position in shares of EnLink Midstream in the third quarter worth approximately $107,000. Sunbelt Securities Inc. increased its stake in shares of EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 1,511 shares in the last quarter. Finally, Inscription Capital LLC bought a new stake in shares of EnLink Midstream during the 3rd quarter valued at $154,000. 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.