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 issued on Monday morning.

ENLC has been the subject of a number of other research reports. Citigroup increased 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. reduced their price objective on EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a research report on Thursday, February 29th. Finally, Capital One Financial began coverage on EnLink Midstream in a research report on Friday, March 22nd. They issued an overweight rating and a $15.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $14.33.

EnLink Midstream Trading Down 1.4 %

NYSE ENLC opened at $13.38 on Monday. EnLink Midstream has a one year low of $9.94 and a one year high of $14.18. The firm has a market capitalization of $6.04 billion, a PE ratio of 38.22 and a beta of 2.36. The company has a 50-day simple moving average of $13.23 and a 200-day simple moving average of $12.81. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.78 and a current ratio of 0.78.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. On average, equities analysts forecast that EnLink Midstream will post 0.62 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th were paid a dividend of $0.132 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $0.53 annualized dividend and a dividend yield of 3.95%. EnLink Midstream’s dividend payout ratio is currently 151.43%.

Institutional Trading of EnLink Midstream

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in EnLink Midstream during the fourth quarter worth about $27,000. JNBA Financial Advisors acquired a new position in EnLink Midstream during the fourth quarter valued at approximately $30,000. Sunbelt Securities Inc. lifted its stake in EnLink Midstream by 232.4% during 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. UMB Bank n.a. boosted its holdings in shares of EnLink Midstream by 198.8% in the 4th quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock valued at $72,000 after purchasing an additional 3,965 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of EnLink Midstream in the 1st quarter valued at $105,000. 45.87% of the stock is owned by institutional investors and hedge funds.

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.