ValuEngine upgraded shares of EnLink Midstream (NYSE:ENLC) from a sell rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.
Several other equities analysts have also weighed in on the company. Jefferies Financial Group raised EnLink Midstream from a hold rating to a buy rating and reduced their price objective for the company from $13.00 to $12.00 in a report on Monday, July 15th. Mizuho began coverage on EnLink Midstream in a report on Thursday, July 25th. They set a neutral rating and a $11.50 price objective for the company. Barclays reissued a hold rating and set a $12.00 price objective on shares of EnLink Midstream in a report on Thursday, July 18th. Finally, Stifel Nicolaus lowered EnLink Midstream from a buy rating to a hold rating and set a $13.00 price objective for the company. in a report on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $15.14.
Shares of ENLC stock traded down $0.22 during trading on Thursday, hitting $9.06. The company’s stock had a trading volume of 3,201,969 shares, compared to its average volume of 2,684,662. The company has a market cap of $4.41 billion, a P/E ratio of -129.43, a PEG ratio of 8.96 and a beta of 2.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average is $10.06. EnLink Midstream has a 52 week low of $8.90 and a 52 week high of $17.92.
EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. EnLink Midstream had a negative return on equity of 0.09% and a negative net margin of 2.62%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company earned $0.06 earnings per share. EnLink Midstream’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that EnLink Midstream will post 0.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Monday, July 29th will be issued a $0.283 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. This represents a $1.13 dividend on an annualized basis and a dividend yield of 12.49%. The ex-dividend date is Friday, July 26th. EnLink Midstream’s dividend payout ratio (DPR) is presently -1,614.29%.
Several institutional investors have recently bought and sold shares of ENLC. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of EnLink Midstream by 434.0% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 31,552,103 shares of the pipeline company’s stock worth $403,236,000 after acquiring an additional 25,643,624 shares during the period. Alps Advisors Inc. boosted its holdings in shares of EnLink Midstream by 12,208.4% in the first quarter. Alps Advisors Inc. now owns 24,648,082 shares of the pipeline company’s stock worth $315,002,000 after acquiring an additional 24,447,828 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of EnLink Midstream by 36,353.8% in the first quarter. OppenheimerFunds Inc. now owns 12,168,263 shares of the pipeline company’s stock worth $155,510,000 after acquiring an additional 12,134,883 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of EnLink Midstream by 21,064.4% in the first quarter. Clearbridge Investments LLC now owns 10,697,359 shares of the pipeline company’s stock worth $136,712,000 after acquiring an additional 10,646,815 shares during the period. Finally, Chickasaw Capital Management LLC boosted its holdings in shares of EnLink Midstream by 54.0% in the first quarter. Chickasaw Capital Management LLC now owns 22,530,811 shares of the pipeline company’s stock worth $287,944,000 after acquiring an additional 7,897,745 shares during the period. 48.95% of the stock is owned by hedge funds and other institutional investors.
About EnLink Midstream
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.
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