EnLink Midstream (NYSE:ENLC) Lowered to “Hold” at StockNews.com

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

A number of other research firms have also issued reports on ENLC. UBS Group lifted their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a buy rating in a report on Thursday, January 18th. 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 note on Thursday, February 29th. Capital One Financial assumed coverage on EnLink Midstream in a report on Friday, March 22nd. They issued an overweight rating and a $15.00 target price for the company. Finally, Citigroup upped their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a buy rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $14.33.

EnLink Midstream Stock Up 2.6 %

NYSE ENLC traded up $0.34 during mid-day trading on Wednesday, reaching $13.65. 2,120,821 shares of the company’s stock traded hands, compared to its average volume of 1,964,939. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 39.00 and a beta of 2.39. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. The company has a fifty day simple moving average of $13.32 and a 200-day simple moving average of $12.72. EnLink Midstream has a 1-year low of $8.56 and a 1-year high of $14.18.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. As a group, equities research analysts expect that EnLink Midstream will post 0.59 EPS for the current year.

EnLink Midstream Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, April 26th will be given a $0.132 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.53 annualized dividend and a yield of 3.87%. EnLink Midstream’s dividend payout ratio is currently 151.43%.

Insider Transactions at EnLink Midstream

In related news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction dated 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 in the company, valued at $719,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the sale, the chief financial officer now owns 534,000 shares of the company’s stock, valued at $6,450,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream 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 completion of the transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at $719,611.20. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its holdings in shares of EnLink Midstream by 14.8% in the third quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock valued at $84,000 after purchasing an additional 885 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after buying an additional 1,343 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of EnLink Midstream by 2.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock valued at $795,000 after acquiring an additional 1,494 shares during the last quarter. Lee Financial Co grew its stake in EnLink Midstream by 2.2% in the 3rd quarter. Lee Financial Co now owns 80,655 shares of the pipeline company’s stock worth $986,000 after buying an additional 1,737 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in EnLink Midstream in the fourth quarter valued at $27,000. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.