EnLink Midstream (NYSE:ENLC) Cut to “Hold” at US Capital Advisors

US Capital Advisors lowered shares of EnLink Midstream (NYSE:ENLC) from a moderate buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.50 EPS, Q4 2025 earnings at $0.28 EPS, FY2025 earnings at $0.88 EPS and FY2026 earnings at $1.05 EPS.

ENLC has been the subject of a number of other reports. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, August 16th. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Wells Fargo & Company cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $16.00 to $15.00 in a report on Friday, August 30th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 30th. Ten research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Trading Down 0.4 %

ENLC stock opened at $15.85 on Tuesday. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $16.40. The firm’s 50-day moving average is $14.99 and its 200 day moving average is $14.01. The company has a market capitalization of $7.24 billion, a PE ratio of 75.48 and a beta of 2.41. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s revenue was down 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. On average, research analysts anticipate that EnLink Midstream will post 0.51 EPS for the current year.

EnLink Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.1325 per share. The ex-dividend date was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.34%. EnLink Midstream’s dividend payout ratio is presently 252.38%.

Insider Transactions at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENLC. ORG Partners LLC acquired a new stake in shares of EnLink Midstream during the second quarter worth $28,000. Newbridge Financial Services Group Inc. acquired a new stake in EnLink Midstream during the 2nd quarter worth about $56,000. Wilmington Savings Fund Society FSB purchased a new stake in EnLink Midstream during the 3rd quarter valued at about $98,000. First Horizon Advisors Inc. increased its holdings in shares of EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 853 shares during the period. Finally, Icon Wealth Advisors LLC acquired a new position in shares of EnLink Midstream in the third quarter valued at about $107,000. Institutional investors and hedge funds 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.