EnLink Midstream, LLC (NYSE:ENLC) Receives $15.33 Average Price Target from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been given an average recommendation of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $15.44.

ENLC has been the subject of several recent analyst reports. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, August 16th. Wells Fargo & Company downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.00 to $15.00 in a research note on Friday, August 30th. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday. Finally, StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th.

EnLink Midstream Price Performance

NYSE ENLC opened at $14.66 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $13.73 and its 200-day moving average price is $13.54. EnLink Midstream has a 52-week low of $11.44 and a 52-week high of $14.80. The company has a market cap of $6.62 billion, a PE ratio of 41.89 and a beta of 2.40.

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

EnLink Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were issued a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.62%. 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 dividend payout ratio (DPR) is 151.43%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new position in shares of EnLink Midstream during the second quarter worth $28,000. Newbridge Financial Services Group Inc. acquired a new stake in EnLink Midstream during the second quarter valued at $56,000. Sunbelt Securities Inc. grew its position in EnLink Midstream by 24.2% during 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 during the period. SG Americas Securities LLC acquired a new stake in EnLink Midstream during the first quarter valued at $105,000. Finally, First Horizon Advisors Inc. grew its position 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 valued at $106,000 after buying an additional 853 shares during the period. Hedge funds and other 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.