Citigroup Boosts EnLink Midstream (NYSE:ENLC) Price Target to $16.00

EnLink Midstream (NYSE:ENLC - Free Report) had its price target upped by Citigroup from $13.00 to $16.00 in a research note released on Tuesday, MarketBeat Ratings reports. The firm currently has a buy rating on the pipeline company's stock.

Other analysts have also recently issued research reports about the company. UBS Group increased their price objective on EnLink Midstream from $14.00 to $15.00 and gave the stock a buy rating in a report on Thursday, January 18th. JPMorgan Chase & Co. dropped their price objective on EnLink Midstream from $15.00 to $14.00 and set a neutral rating on the stock in a report on Thursday, February 29th. StockNews.com cut EnLink Midstream from a buy rating to a hold rating in a report on Thursday, April 11th. Finally, Capital One Financial initiated coverage on EnLink Midstream in a report on Friday, March 22nd. They set an overweight rating and a $15.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $14.63.

EnLink Midstream Stock Performance

Shares of ENLC stock traded up $0.02 on Tuesday, hitting $13.46. 1,911,836 shares of the stock were exchanged, compared to its average volume of 1,966,130. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $6.10 billion, a PE ratio of 30.59 and a beta of 2.39. EnLink Midstream has a one year low of $8.45 and a one year high of $14.18. The firm's 50 day moving average is $12.88 and its two-hundred day moving average is $12.59.

EnLink Midstream (NYSE:ENLC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. Sell-side analysts expect that EnLink Midstream will post 0.6 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be issued a $0.132 dividend. This represents a $0.53 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream's dividend payout ratio (DPR) is 120.46%.

Insiders Place Their Bets

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the sale, the chief financial officer now directly owns 534,000 shares of the company's stock, valued at $6,450,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the sale, the chief financial officer now directly owns 534,000 shares of the company's stock, valued at $6,450,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the company'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 transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at $719,611.20. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ENLC. Headlands Technologies LLC bought a new position in EnLink Midstream in the fourth quarter valued at about $27,000. National Bank of Canada FI bought a new position in EnLink Midstream in the third quarter valued at about $28,000. JNBA Financial Advisors bought a new position in EnLink Midstream in the fourth quarter valued at about $30,000. Sunbelt Securities Inc. lifted its holdings in EnLink Midstream by 232.4% in the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company's stock valued at $67,000 after acquiring an additional 3,837 shares during the period. Finally, UMB Bank n.a. lifted its holdings in EnLink Midstream by 198.8% in the fourth 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. 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.