EnLink Midstream LLC (NYSE:ENLC) has been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.35.
A number of brokerages have recently commented on ENLC. ValuEngine raised EnLink Midstream from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Mitsubishi UFJ Financial Group lowered EnLink Midstream from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $10.00 in a report on Wednesday, August 7th. Credit Suisse Group lowered EnLink Midstream from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $13.50 to $8.00 in a report on Monday, August 19th. Jefferies Financial Group raised EnLink Midstream from a “hold” rating to a “buy” rating and decreased their target price for the company from $13.00 to $12.00 in a research note on Monday, July 15th. Finally, Barclays set a $8.00 target price on EnLink Midstream and gave the company a “hold” rating in a research note on Tuesday, October 15th.
In related news, Chairman Barry E. Davis purchased 136,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of $7.32 per share, for a total transaction of $1,000,644.00. Following the transaction, the chairman now directly owns 1,892,372 shares of the company’s stock, valued at approximately $13,852,163.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kyle D. Vann purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $7.44 per share, with a total value of $148,800.00. Following the transaction, the director now directly owns 99,907 shares in the company, valued at $743,308.08. The disclosure for this purchase can be found here. Company insiders own 1.45% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ENLC. Arlington Partners LLC acquired a new stake in EnLink Midstream during the 2nd quarter worth about $30,000. Valeo Financial Advisors LLC purchased a new stake in shares of EnLink Midstream during the 2nd quarter worth about $35,000. Cullen Frost Bankers Inc. raised its stake in shares of EnLink Midstream by 34.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,648 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 1,198 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of EnLink Midstream during the 2nd quarter worth about $103,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of EnLink Midstream during the 2nd quarter worth about $108,000. Institutional investors and hedge funds own 47.25% of the company’s stock.
Shares of ENLC traded up $0.15 during trading hours on Thursday, reaching $6.93. 4,596,957 shares of the company’s stock traded hands, compared to its average volume of 2,818,634. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -99.00, a P/E/G ratio of 6.38 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. EnLink Midstream has a twelve month low of $6.63 and a twelve month high of $15.52. The business’s fifty day simple moving average is $7.90 and its two-hundred day simple moving average is $9.65.
EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.85 billion. EnLink Midstream had a negative net margin of 3.21% and a negative return on equity of 0.16%. EnLink Midstream’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. On average, equities research analysts expect that EnLink Midstream will post 0.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Monday, October 28th will be paid a dividend of $0.283 per share. The ex-dividend date is Friday, October 25th. This represents a $1.13 annualized dividend and a yield of 16.33%. EnLink Midstream’s dividend payout ratio is currently -1,614.29%.
EnLink Midstream Company Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.
Featured Story: What is Cost of Debt?
Receive News & Ratings for EnLink Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream and related companies with MarketBeat.com's FREE daily email newsletter.