EnLink Midstream (NYSE:ENLC) Downgraded by StockNews.com

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

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price target 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. Capital One Financial assumed coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They issued an overweight rating and a $15.00 price target for the company. Citigroup increased their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Finally, UBS Group lifted their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a buy rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $14.33.

EnLink Midstream Price Performance

ENLC stock opened at $13.47 on Wednesday. The firm has a 50 day moving average of $13.33 and a 200-day moving average of $12.72. The firm has a market capitalization of $6.10 billion, a P/E ratio of 38.49 and a beta of 2.39. EnLink Midstream has a 12 month low of $8.56 and a 12 month high of $14.18. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. The business 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, sell-side analysts predict that EnLink Midstream will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be paid a $0.132 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.92%. EnLink Midstream’s dividend payout ratio (DPR) is 151.43%.

Insider Activity at EnLink Midstream

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total value of $616,000.00. Following the completion of the sale, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at $719,611.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Jan Philipp Rossbach sold 50,000 shares of the firm’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 transaction of $616,000.00. Following the transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at approximately $719,611.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 534,000 shares of the company’s stock, valued at $6,450,720. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On EnLink Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in EnLink Midstream in the fourth quarter worth $27,000. JNBA Financial Advisors bought a new position in shares of EnLink Midstream in the 4th quarter worth about $30,000. Sunbelt Securities Inc. increased its stake in shares of EnLink Midstream by 232.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after acquiring an additional 3,837 shares in the last quarter. UMB Bank n.a. lifted its position in EnLink Midstream by 198.8% during the 4th quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock valued at $72,000 after acquiring an additional 3,965 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in EnLink Midstream by 14.8% during the third quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock worth $84,000 after acquiring an additional 885 shares in the last quarter. 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.