StockNews.com Downgrades EnLink Midstream (NYSE:ENLC) to Hold

StockNews.com lowered shares of EnLink Midstream (NYSE:ENLC - Free Report) from a buy rating to a hold rating in a research report report published on Thursday.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a research report on Thursday, February 29th. UBS Group increased their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a buy rating in a research report on Thursday, January 18th. Finally, Capital One Financial initiated coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an overweight rating and a $15.00 target price for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, EnLink Midstream currently has an average rating of Moderate Buy and a consensus price target of $14.43.

EnLink Midstream Stock Down 0.4 %

Shares of ENLC stock traded down $0.05 on Thursday, hitting $13.75. The stock had a trading volume of 1,808,183 shares, compared to its average volume of 1,950,918. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 31.25 and a beta of 2.39. The business has a 50 day moving average of $12.77 and a 200 day moving average of $12.56. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84. EnLink Midstream has a 12-month low of $8.45 and a 12-month high of $14.18.

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, meeting the consensus estimate of $0.14. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. As a group, analysts expect that EnLink Midstream will post 0.6 EPS for the current year.

EnLink Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Monday, January 29th were given a $0.1325 dividend. This is a positive change from EnLink Midstream's previous quarterly dividend of $0.13. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Friday, January 26th. EnLink Midstream's dividend payout ratio (DPR) is 120.45%.

Insider Activity

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Benjamin D. Lamb sold 250,552 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the sale, 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. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of EnLink Midstream during the fourth quarter worth approximately $27,000. National Bank of Canada FI purchased a new position in shares of EnLink Midstream during the third quarter worth approximately $28,000. Comerica Bank purchased a new position in shares of EnLink Midstream during the second quarter worth approximately $250,000. JNBA Financial Advisors purchased a new position in shares of EnLink Midstream during the fourth quarter worth approximately $30,000. Finally, Sunbelt Securities Inc. raised its stake in shares of EnLink Midstream by 232.4% during the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company's stock worth $67,000 after acquiring an additional 3,837 shares in the last quarter. 45.87% of the stock is owned by hedge funds and other 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.