StockNews.com downgraded shares of EnLink Midstream (NYSE:ENLC – Free Report) from a buy rating to a hold rating in a research report released on Thursday morning.
A number of other research firms have also commented on ENLC. UBS Group raised their price objective on EnLink Midstream from $14.00 to $15.00 and gave the stock a buy rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. lowered their price objective on EnLink Midstream from $15.00 to $14.00 and set a neutral rating on the stock in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $14.33.
EnLink Midstream Stock Performance
NYSE:ENLC traded down $0.27 during mid-day trading on Thursday, hitting $12.70. 2,570,398 shares of the stock were exchanged, compared to its average volume of 1,935,470. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 29.49 and a beta of 2.39. The firm’s 50-day simple moving average is $12.23 and its 200 day simple moving average is $12.43. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. EnLink Midstream has a fifty-two week low of $8.45 and a fifty-two week high of $13.98.
EnLink Midstream (NYSE:ENLC – Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. As a group, equities analysts anticipate that EnLink Midstream will post 0.63 EPS for the current fiscal year.
EnLink Midstream Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Monday, January 29th were paid a $0.1325 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, January 26th. This represents a $0.53 annualized dividend and a dividend yield of 4.17%. EnLink Midstream’s dividend payout ratio (DPR) is presently 120.46%.
Insider Activity
In other news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value of $616,000.00. Following the transaction, the chief accounting officer now owns 58,410 shares in the company, valued at approximately $719,611.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Benjamin D. Lamb sold 250,552 shares of the business’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 sale, the chief financial officer now owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value of $616,000.00. Following the transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at $719,611.20. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of EnLink Midstream in the 4th quarter valued at about $27,000. National Bank of Canada FI acquired a new position in shares of EnLink Midstream in the 3rd quarter valued at about $28,000. Comerica Bank acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at about $250,000. JNBA Financial Advisors acquired a new position in shares of EnLink Midstream in the 4th quarter valued at about $30,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of EnLink Midstream by 232.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock valued at $67,000 after purchasing an additional 3,837 shares during the period. 44.80% of the stock is owned by institutional investors and hedge funds.
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.