EnLink Midstream, LLC (NYSE:ENLC) Receives $15.40 Consensus Target Price from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have received a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $15.40.

ENLC has been the topic of a number of research reports. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. 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. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a research report on Monday, September 16th. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Friday, August 30th. Finally, UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Monday, September 30th.

EnLink Midstream Stock Performance

Shares of NYSE ENLC opened at $15.60 on Friday. 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 firm’s 50-day moving average price is $14.77 and its 200-day moving average price is $13.86. EnLink Midstream has a 52-week low of $11.53 and a 52-week high of $15.67. The company has a market cap of $7.13 billion, a PE ratio of 73.76 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) 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 company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. As a group, analysts anticipate that EnLink Midstream will post 0.55 EPS for the current year.

EnLink Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a yield of 3.40%. EnLink Midstream’s dividend payout ratio is presently 252.38%.

Insiders Place Their Bets

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

Several institutional investors and hedge funds have recently modified their holdings of ENLC. ORG Partners LLC acquired a new position in shares of EnLink Midstream in the second quarter valued at about $28,000. Newbridge Financial Services Group Inc. acquired a new position in EnLink Midstream during the second quarter worth $56,000. SG Americas Securities LLC purchased a new stake in shares of EnLink Midstream in the 1st quarter valued at approximately $105,000. First Horizon Advisors Inc. increased its position in shares of EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 853 shares during the last quarter. Finally, Icon Wealth Advisors LLC acquired a new position in EnLink Midstream during the 3rd quarter worth about $107,000. 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.