EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate 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 stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services. Its midstream energy asset network includes approximately 12,100 miles of pipelines; 22 natural gas processing plants;7 fractionators with approximately 320,000 barrels per day; barge and rail terminals; product storage facilities; brine disposal wells; and a crude oil trucking fleet. The company was incorporated in 2013 and is based in Dallas, Texas.
EnLink Midstream Stock Performance
Shares of NYSE:ENLC opened at $9.87 on Monday. The business has a fifty day moving average of $9.26 and a 200-day moving average of $9.46. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.06 and a current ratio of 1.06. EnLink Midstream has a twelve month low of $4.78 and a twelve month high of $11.85. The firm has a market cap of $4.78 billion, a PE ratio of 28.20 and a beta of 2.72.
EnLink Midstream Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were given a $0.1125 dividend. This represents a $0.45 annualized dividend and a yield of 4.56%. The ex-dividend date was Thursday, July 28th. EnLink Midstream's payout ratio is presently 128.57%.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of EnLink Midstream from a "hold" rating to a "buy" rating in a research report on Tuesday, May 17th. Credit Suisse Group boosted their price target on EnLink Midstream from $6.50 to $9.00 and gave the company an "underperform" rating in a research note on Tuesday, April 19th. Mizuho upped their price target on EnLink Midstream from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, May 27th. Raymond James lifted their price objective on EnLink Midstream from $11.00 to $12.00 in a report on Wednesday, May 4th. Finally, Morgan Stanley upped their target price on shares of EnLink Midstream from $9.00 to $12.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.17.
Insiders Place Their Bets
In related news, COO Benjamin D. Lamb sold 150,000 shares of the firm's stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $9.18, for a total value of $1,377,000.00. Following the completion of the sale, the chief operating officer now owns 935,090 shares of the company's stock, valued at $8,584,126.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Benjamin D. Lamb sold 150,000 shares of the firm's stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $9.18, for a total value of $1,377,000.00. Following the transaction, the chief operating officer now owns 935,090 shares in the company, valued at $8,584,126.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Benjamin D. Lamb sold 45,000 shares of the business's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $9.47, for a total value of $426,150.00. Following the sale, the chief operating officer now directly owns 741,173 shares of the company's stock, valued at $7,018,908.31. The disclosure for this sale can be found here. Insiders own 0.84% of the company's stock.