EnLink Midstream (NYSE:ENLC) Raised to Buy at StockNews.com

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

A number of other analysts have also commented on ENLC. UBS Group boosted their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a buy rating in a research note on Thursday, January 18th. Citigroup boosted their target price on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of EnLink Midstream from $15.00 to $14.00 and set a neutral rating on the stock in a research report on Thursday, February 29th. Finally, Capital One Financial assumed coverage on EnLink Midstream in a report on Friday, March 22nd. They set an overweight rating and a $15.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, EnLink Midstream currently has a consensus rating of Moderate Buy and an average target price of $14.63.

EnLink Midstream Stock Up 0.8 %

Shares of NYSE ENLC opened at $13.59 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70. The firm has a market cap of $6.16 billion, a PE ratio of 30.89 and a beta of 2.39. The company’s fifty day simple moving average is $12.97 and its 200 day simple moving average is $12.62. EnLink Midstream has a 12-month low of $8.45 and a 12-month high of $14.18.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. As a group, sell-side analysts forecast that EnLink Midstream will post 0.6 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

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

Insider Buying and Selling at EnLink Midstream

In related 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 value of $616,000.00. Following 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 through the SEC website. In other news, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream stock in a transaction dated Wednesday, February 28th. The shares were 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 in the company, valued at $6,450,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction that occurred on 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 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 Trading of EnLink Midstream

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates increased its holdings in shares of EnLink Midstream by 29.4% in the first quarter. Raymond James & Associates now owns 81,453 shares of the pipeline company’s stock worth $786,000 after purchasing an additional 18,487 shares during the period. Cetera Advisor Networks LLC increased its stake in EnLink Midstream by 34.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 33,916 shares of the pipeline company’s stock worth $327,000 after acquiring an additional 8,600 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in EnLink Midstream by 16.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 175,190 shares of the pipeline company’s stock worth $1,797,000 after acquiring an additional 24,361 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of EnLink Midstream by 7.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,225,310 shares of the pipeline company’s stock valued at $108,324,000 after acquiring an additional 746,457 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of EnLink Midstream by 15.5% during the 1st quarter. Allianz Asset Management GmbH now owns 1,723,580 shares of the pipeline company’s stock valued at $16,633,000 after acquiring an additional 231,880 shares during the last quarter. Hedge funds and other 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.