BidaskClub lowered shares of EnLink Midstream, LLC (NYSE:ENLC) from a sell rating to a strong sell rating in a research note released on Wednesday, October 18th.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of EnLink Midstream from a hold rating to a strong sell rating in a research report on Tuesday, July 4th. Jefferies Group LLC upgraded shares of EnLink Midstream from an underperform rating to a hold rating and dropped their target price for the company from $16.00 to $15.00 in a research note on Wednesday, July 12th. Barclays PLC reiterated a hold rating and issued a $19.00 target price on shares of EnLink Midstream in a research note on Friday, July 21st. Royal Bank Of Canada reiterated a hold rating and issued a $21.00 target price on shares of EnLink Midstream in a research note on Monday, July 31st. Finally, Citigroup Inc. upgraded shares of EnLink Midstream to a neutral rating and set a $19.00 target price on the stock in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. EnLink Midstream has an average rating of Hold and a consensus target price of $18.83.
Shares of EnLink Midstream (NYSE:ENLC) traded up 2.58% during trading on Wednesday, hitting $15.90. The company had a trading volume of 458,837 shares. EnLink Midstream has a 12-month low of $14.70 and a 12-month high of $20.45. The firm has a 50 day moving average of $17.08 and a 200 day moving average of $17.38. The stock has a market cap of $2.87 billion, a PE ratio of 3975.00 and a beta of 2.59.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date is Tuesday, October 31st.
Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its stake in EnLink Midstream by 11.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock worth $100,000 after purchasing an additional 599 shares in the last quarter. Linscomb & Williams Inc. purchased a new stake in EnLink Midstream in the 3rd quarter worth approximately $150,000. WFG Advisors LP lifted its stake in EnLink Midstream by 11.5% in the 2nd quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock worth $162,000 after purchasing an additional 950 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in EnLink Midstream in the 2nd quarter worth approximately $178,000. Finally, Tower Research Capital LLC TRC purchased a new stake in EnLink Midstream in the 1st quarter worth approximately $206,000. Institutional investors and hedge funds own 34.47% of the company’s stock.
About EnLink Midstream
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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