EnLink Midstream (NYSE:ENLC) Earns Equal Weight Rating from Capital One Financial

Capital One Financial restated their equal weight rating on shares of EnLink Midstream (NYSE:ENLC) in a research report sent to investors on Tuesday morning, Marketbeat reports. Capital One Financial currently has a $16.00 price target on the pipeline company’s stock.

Several other research firms have also issued reports on ENLC. Morgan Stanley lifted their price target on shares of EnLink Midstream from $15.00 to $16.00 and gave the stock an overweight rating in a research report on Tuesday, August 27th. Stifel Nicolaus cut shares of EnLink Midstream from a buy rating to a hold rating and set a $15.00 price objective on the stock. in a research report on Friday, August 30th. Tudor Pickering upgraded shares of EnLink Midstream to a strong-buy rating in a report on Friday, August 16th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted 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. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $15.20.

EnLink Midstream Trading Up 0.2 %

EnLink Midstream stock opened at $14.32 on Tuesday. 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 1 year low of $11.44 and a 1 year high of $14.80. The firm’s 50-day moving average is $13.52 and its 200-day moving average is $13.28. The company has a market cap of $6.46 billion, a P/E ratio of 40.90 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. EnLink Midstream’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share. On average, equities analysts expect that EnLink Midstream will post 0.59 earnings per share for the current year.

EnLink Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were paid a $0.1325 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 2nd. This represents a $0.53 annualized dividend and a yield of 3.70%. EnLink Midstream’s payout ratio is currently 151.43%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its stake in EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 853 shares in the last quarter. First Dallas Securities Inc. increased its stake in shares of EnLink Midstream by 0.6% in the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock valued at $2,182,000 after buying an additional 960 shares in the last quarter. Callahan Advisors LLC increased its stake in shares of EnLink Midstream by 8.7% in the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after buying an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of EnLink Midstream by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock valued at $191,000 after buying an additional 1,151 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in shares of EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after buying an additional 1,343 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.