Citigroup Boosts EnLink Midstream (NYSE:ENLC) Price Target to $16.00

EnLink Midstream (NYSE:ENLC) had its price target lifted by Citigroup from $13.00 to $16.00 in a research note released on Tuesday, Marketbeat reports. They currently have a buy rating on the pipeline company’s stock.

Several other equities analysts have also recently commented on ENLC. Capital One Financial assumed coverage on EnLink Midstream in a research report on Friday, March 22nd. They set an overweight rating and a $15.00 target price for the company. UBS Group boosted their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a buy rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. cut their price objective on EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a report on Thursday, February 29th. Finally, StockNews.com cut EnLink Midstream from a buy rating to a hold rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $14.63.

EnLink Midstream Price Performance

Shares of NYSE ENLC opened at $13.59 on Tuesday. The stock has a market cap of $6.16 billion, a PE ratio of 30.89 and a beta of 2.39. EnLink Midstream has a fifty-two week low of $8.45 and a fifty-two week high of $14.18. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day moving average of $12.97 and a 200-day moving average of $12.61.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.82 billion. Equities research analysts anticipate 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. Shareholders of record on Friday, April 26th will be given a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Thursday, April 25th. EnLink Midstream’s payout ratio is 120.46%.

Insider Activity

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $719,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the sale, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at $6,450,720. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of EnLink Midstream by 11.0% in the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after buying an additional 4,200,733 shares during the period. Hodges Capital Management Inc. bought a new position in shares of EnLink Midstream during the third quarter valued at approximately $3,246,000. UBS Group AG lifted its holdings in shares of EnLink Midstream by 22.9% during the third quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock valued at $18,848,000 after purchasing an additional 287,400 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of EnLink Midstream in the 3rd quarter worth approximately $1,337,000. Finally, Strategic Blueprint LLC bought a new position in EnLink Midstream during the 4th quarter valued at approximately $126,000. Institutional investors own 45.87% of the company’s stock.

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.