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

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

A number of other equities analysts have also recently commented on ENLC. Citigroup raised their target price on EnLink Midstream from $13.00 to $16.00 and gave the stock a buy rating in a report on Tuesday. UBS Group raised their target price on 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. cut their price target on EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a research note on Thursday, February 29th. Finally, Capital One Financial initiated coverage on EnLink Midstream in a research note on Friday, March 22nd. They issued an overweight rating and a $15.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $14.63.

EnLink Midstream Price Performance

NYSE ENLC opened at $13.59 on Friday. The business’s fifty day moving average price is $12.97 and its 200-day moving average price is $12.61. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 30.89 and a beta of 2.39. 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 1-year low of $8.45 and a 1-year high of $14.18.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. On average, equities analysts predict that EnLink Midstream will post 0.6 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be given a dividend of $0.132 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.89%. EnLink Midstream’s payout ratio is 120.46%.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in EnLink Midstream in the fourth quarter worth about $27,000. National Bank of Canada FI bought a new stake in EnLink Midstream in the third quarter worth about $28,000. JNBA Financial Advisors bought a new stake in EnLink Midstream in the fourth quarter worth about $30,000. Sunbelt Securities Inc. lifted its stake in EnLink Midstream by 232.4% in the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 3,837 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in EnLink Midstream by 198.8% in the fourth quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock worth $72,000 after purchasing an additional 3,965 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.