EnLink Midstream’s (ENLC) “Neutral” Rating Reiterated at Mizuho

Mizuho reiterated their neutral rating on shares of EnLink Midstream (NYSE:ENLC) in a research report report published on Thursday, Marketbeat Ratings reports. They currently have a $15.00 price target on the pipeline company’s stock.

A number of other brokerages also recently issued reports on ENLC. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Monday, September 30th. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Friday, August 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Price Performance

ENLC opened at $14.71 on Thursday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $14.96. The firm’s fifty day moving average is $14.51 and its 200 day moving average is $13.74. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 49.03 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the firm posted $0.12 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that EnLink Midstream will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a $0.1325 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.60%. EnLink Midstream’s dividend payout ratio (DPR) is presently 176.67%.

Insider Transactions at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

Several hedge funds have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC grew its holdings in EnLink Midstream by 120.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after purchasing an additional 1,141,254 shares during the last quarter. Van ECK Associates Corp boosted its position in EnLink Midstream by 100.8% in the 3rd quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after buying an additional 63,997 shares during the period. Inscription Capital LLC purchased a new stake in EnLink Midstream in the 3rd quarter valued at about $154,000. Insight Folios Inc boosted its position in EnLink Midstream by 16.3% in the 3rd quarter. Insight Folios Inc now owns 25,077 shares of the pipeline company’s stock valued at $364,000 after buying an additional 3,510 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in EnLink Midstream by 13.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,090 shares of the pipeline company’s stock valued at $233,000 after buying an additional 1,958 shares during the period. 45.87% of the stock is currently owned by institutional investors.

EnLink Midstream Company Profile

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.