Seaport Global Securities set a $17.00 price target on EnLink Midstream (NYSE:ENLC) in a research report report published on Friday, February 9th. The firm currently has a hold rating on the pipeline company’s stock.
Several other equities analysts have also weighed in on the stock. UBS Group upgraded shares of EnLink Midstream from a neutral rating to a buy rating and set a $19.00 target price on the stock in a report on Tuesday, October 24th. BidaskClub upgraded shares of EnLink Midstream from a strong sell rating to a sell rating in a report on Tuesday, November 7th. Goldman Sachs Group upgraded shares of EnLink Midstream from a sell rating to a neutral rating in a report on Friday, November 17th. Zacks Investment Research lowered shares of EnLink Midstream from a buy rating to a hold rating in a report on Tuesday, October 31st. Finally, Jefferies Group restated a hold rating and issued a $16.00 price objective on shares of EnLink Midstream in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $18.62.
EnLink Midstream (NYSE:ENLC) traded down $0.35 during trading hours on Friday, reaching $16.75. 853,488 shares of the company’s stock traded hands, compared to its average volume of 363,928. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm has a market cap of $3,133.22, a price-to-earnings ratio of 570.19 and a beta of 2.47. EnLink Midstream has a 12 month low of $15.00 and a 12 month high of $20.45.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a $0.259 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.26. This represents a $1.04 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend was Tuesday, January 30th. EnLink Midstream’s dividend payout ratio is currently 3,467.82%.
Several hedge funds have recently modified their holdings of ENLC. Chickasaw Capital Management LLC increased its stake in EnLink Midstream by 3.0% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,898,889 shares of the pipeline company’s stock worth $279,820,000 after buying an additional 456,251 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in EnLink Midstream by 8.0% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 3,737,067 shares of the pipeline company’s stock worth $64,464,000 after buying an additional 275,225 shares during the period. Dimensional Fund Advisors LP increased its stake in EnLink Midstream by 14.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock worth $42,577,000 after buying an additional 314,840 shares during the period. Principal Financial Group Inc. increased its stake in EnLink Midstream by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,182,575 shares of the pipeline company’s stock worth $37,650,000 after buying an additional 80,717 shares during the period. Finally, Cushing Asset Management LP increased its stake in EnLink Midstream by 8.5% during the 4th quarter. Cushing Asset Management LP now owns 2,049,495 shares of the pipeline company’s stock worth $36,072,000 after buying an additional 161,196 shares during the period. Hedge funds and other institutional investors own 34.40% of the company’s stock.
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About EnLink Midstream
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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