EnLink Midstream (NYSE:ENLC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a report issued on Friday.

A number of other research analysts have also commented on ENLC. Citigroup upped their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a buy rating in a research report on Tuesday, April 16th. UBS Group upped their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a buy rating in a report on Thursday, January 18th. JPMorgan Chase & Co. lowered their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a report on Thursday, February 29th. Finally, Capital One Financial initiated coverage on EnLink Midstream in a research note on Friday, March 22nd. They set an overweight rating and a $15.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $14.63.

EnLink Midstream Price Performance

Shares of EnLink Midstream stock opened at $13.66 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84. EnLink Midstream has a one year low of $8.45 and a one year high of $14.18. The business’s 50 day simple moving average is $13.01 and its two-hundred day simple moving average is $12.64. The stock has a market capitalization of $6.19 billion, a P/E ratio of 31.03 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Analysts forecast that EnLink Midstream will post 0.6 EPS for the current year.

EnLink Midstream Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.132 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.53 annualized dividend and a yield of 3.87%. EnLink Midstream’s dividend payout ratio is 120.46%.

Insiders Place Their Bets

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at $6,450,720. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the sale, the chief accounting officer now directly owns 58,410 shares in the company, valued at approximately $719,611.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of ENLC. Alps Advisors Inc. lifted its position in shares of EnLink Midstream by 11.0% in the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after acquiring an additional 4,200,733 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in EnLink Midstream during the 3rd quarter valued at approximately $3,246,000. UBS Group AG increased its stake in EnLink Midstream by 22.9% in the 3rd quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock worth $18,848,000 after acquiring an additional 287,400 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in EnLink Midstream in the third quarter worth $1,337,000. Finally, Strategic Blueprint LLC purchased a new stake in EnLink Midstream during the fourth quarter valued at $126,000. 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.