EnLink Midstream LLC (NYSE:ENLC)’s share price traded down 6.8% on Wednesday . The stock traded as low as $15.75 and last traded at $15.75. 685,371 shares traded hands during trading, an increase of 75% from the average session volume of 391,276 shares. The stock had previously closed at $16.90.
Several equities analysts have weighed in on the company. Bank of America reduced their price objective on EnLink Midstream from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday. ValuEngine lowered EnLink Midstream from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Seaport Global Securities set a $17.00 price objective on EnLink Midstream and gave the company a “hold” rating in a report on Friday, February 9th. Robert W. Baird set a $18.00 price objective on EnLink Midstream and gave the company a “hold” rating in a report on Monday, February 12th. Finally, B. Riley assumed coverage on EnLink Midstream in a report on Friday, January 26th. They set a “neutral” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.50.
The company has a market cap of $2,844.28, a PE ratio of 393.75 and a beta of 2.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.259 per share. The ex-dividend date was Tuesday, January 30th. This represents a $1.04 annualized dividend and a dividend yield of 6.68%. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. EnLink Midstream’s dividend payout ratio is currently 89.66%.
Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in shares of EnLink Midstream by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock worth $100,000 after buying an additional 599 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of EnLink Midstream in the fourth quarter worth $144,000. Linscomb & Williams Inc. purchased a new stake in shares of EnLink Midstream in the third quarter worth $150,000. Nationwide Fund Advisors raised its position in shares of EnLink Midstream by 397.6% in the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock worth $207,000 after buying an additional 9,599 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of EnLink Midstream in the fourth quarter worth $214,000. Institutional investors own 33.42% of the company’s stock.
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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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