BidaskClub upgraded shares of EnLink Midstream, LLC (NYSE:ENLC) from a strong sell rating to a sell rating in a research note released on Tuesday, November 7th.
A number of other equities analysts also recently commented on ENLC. Jefferies Group LLC raised EnLink Midstream from an underperform rating to a hold rating and lowered their price objective for the stock from $16.00 to $15.00 in a research report on Wednesday, July 12th. Barclays PLC reissued a hold rating and set a $19.00 price objective on shares of EnLink Midstream in a research report on Friday, July 21st. Royal Bank Of Canada reaffirmed a hold rating and issued a $21.00 price target on shares of EnLink Midstream in a report on Monday, July 31st. Citigroup Inc. raised EnLink Midstream to a neutral rating and set a $19.00 price target for the company in a report on Wednesday, August 2nd. Finally, Mitsubishi UFJ Financial Group raised EnLink Midstream from an underweight rating to a neutral rating and set a $19.00 price target for the company in a report on Friday, August 4th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $18.83.
Shares of EnLink Midstream (NYSE:ENLC) traded up $0.15 during trading hours on Tuesday, reaching $15.55. 360,052 shares of the company’s stock were exchanged, compared to its average volume of 470,953. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $2,808.16, a price-to-earnings ratio of 518.33 and a beta of 2.59. EnLink Midstream has a one year low of $15.00 and a one year high of $20.45.
EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.11). EnLink Midstream had a return on equity of 0.15% and a net margin of 0.12%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. The company’s revenue was up 26.6% compared to the same quarter last year. equities analysts forecast that EnLink Midstream will post 0.3 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Wednesday, November 1st were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend was Tuesday, October 31st. EnLink Midstream’s payout ratio is 3,401.13%.
Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in EnLink Midstream by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock worth $100,000 after acquiring an additional 599 shares in the last quarter. Linscomb & Williams Inc. acquired a new stake in EnLink Midstream in the third quarter valued at $150,000. WFG Advisors LP grew its holdings in EnLink Midstream by 11.5% in the second quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock valued at $162,000 after purchasing an additional 950 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in EnLink Midstream in the second quarter valued at $178,000. Finally, Nationwide Fund Advisors grew its holdings in EnLink Midstream by 397.6% in the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock valued at $207,000 after purchasing an additional 9,599 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.
EnLink Midstream Company Profile
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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