EnLink Midstream, LLC (NYSE:ENLC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

EnLink Midstream, LLC (NYSE:ENLC) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $15.20.

Several research analysts recently issued reports on ENLC shares. Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Friday, August 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Finally, Morgan Stanley raised their price objective on shares of EnLink Midstream from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. ORG Partners LLC bought a new position in EnLink Midstream in the 2nd quarter worth approximately $28,000. JNBA Financial Advisors bought a new position in EnLink Midstream in the 4th quarter worth approximately $30,000. Sunbelt Securities Inc. raised its position in EnLink Midstream by 24.2% in the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,343 shares during the last quarter. SG Americas Securities LLC acquired a new stake in EnLink Midstream during the 1st quarter worth $105,000. Finally, First Horizon Advisors Inc. grew its holdings in EnLink Midstream by 12.5% during the 2nd 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 during the period. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $14.17 on Monday. EnLink Midstream has a 12-month low of $11.44 and a 12-month high of $14.80. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $6.54 billion, a PE ratio of 40.49 and a beta of 2.40. The firm has a 50-day moving average price of $13.53 and a 200 day moving average price of $13.29.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the company earned $0.12 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Research analysts anticipate that EnLink Midstream will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were given a $0.1325 dividend. This represents a $0.53 annualized dividend and a yield of 3.74%. The ex-dividend date was Friday, August 2nd. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s payout ratio is 151.43%.

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.