EnLink Midstream (NYSE:ENLC) Price Target Raised to $16.00

EnLink Midstream (NYSE:ENLC) had its price objective upped by Citigroup from $13.00 to $16.00 in a report published on Tuesday morning, MarketBeat reports. They currently have a buy rating on the pipeline company’s stock.

Other equities analysts have also recently issued research reports about the company. Capital One Financial began coverage on EnLink Midstream in a report on Friday, March 22nd. They issued an overweight rating and a $15.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a report on Thursday, February 29th. StockNews.com cut EnLink Midstream from a buy rating to a hold rating in a report on Thursday, April 11th. Finally, UBS Group upped their price target on EnLink Midstream from $14.00 to $15.00 and gave the stock a buy rating in a report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, EnLink Midstream presently has a consensus rating of Moderate Buy and an average target price of $14.63.

EnLink Midstream Stock Up 0.4 %

EnLink Midstream stock opened at $13.48 on Tuesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50-day simple moving average is $12.94 and its two-hundred day simple moving average is $12.60. The company has a market cap of $6.11 billion, a PE ratio of 30.64 and a beta of 2.39. EnLink Midstream has a fifty-two week low of $8.45 and a fifty-two week high of $14.18.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. Equities analysts anticipate that EnLink Midstream will post 0.6 EPS for the current year.

EnLink Midstream Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, April 26th will be issued a $0.132 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a yield of 3.92%. EnLink Midstream’s payout ratio is 120.46%.

Insider Buying and Selling

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the transaction, the chief financial officer now 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 through this hyperlink. In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the transaction, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at $719,611.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Benjamin D. Lamb sold 250,552 shares of the 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 transaction, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EnLink Midstream

Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in shares of EnLink Midstream by 4.4% in the third quarter. Envestnet Asset Management Inc. now owns 20,695 shares of the pipeline company’s stock valued at $184,000 after purchasing an additional 878 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of EnLink Midstream by 14.8% in the third quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock valued at $84,000 after purchasing an additional 885 shares in the last quarter. Sunbelt Securities Inc. grew its position 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 purchasing an additional 1,343 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of EnLink Midstream by 13.6% in the fourth quarter. Alliancebernstein L.P. now owns 12,110 shares of the pipeline company’s stock valued at $149,000 after purchasing an additional 1,446 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its position in shares of EnLink Midstream by 2.4% in the third quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock valued at $795,000 after purchasing an additional 1,494 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.