Analysts Set EnLink Midstream, LLC (NYSE:ENLC) Price Target at $15.44

EnLink Midstream, LLC (NYSE:ENLC - Get Free Report) has been assigned an average recommendation of "Hold" from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.44.

A number of analysts have commented on ENLC shares. UBS Group cut shares of EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 target price for the company. in a report on Monday, September 30th. Wells Fargo & Company lowered EnLink Midstream from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $16.00 to $15.00 in a research note on Friday, August 30th. StockNews.com upgraded EnLink Midstream from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. Capital One Financial reissued an "equal weight" rating and set a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. Finally, Tudor Pickering raised EnLink Midstream to a "strong-buy" rating in a research note on Friday, August 16th.

Insiders Place Their Bets

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Clearbridge Investments LLC bought a new position in EnLink Midstream during the first quarter valued at approximately $873,000. Hennessy Advisors Inc. grew its holdings in shares of EnLink Midstream by 13.3% in the first quarter. Hennessy Advisors Inc. now owns 2,116,600 shares of the pipeline company's stock valued at $28,870,000 after purchasing an additional 248,100 shares in the last quarter. Janus Henderson Group PLC bought a new stake in EnLink Midstream in the first quarter worth $1,453,000. Miller Howard Investments Inc. NY increased its holdings in shares of EnLink Midstream by 4.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company's stock worth $31,016,000 after buying an additional 93,587 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in EnLink Midstream by 22.8% during the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company's stock valued at $30,629,000 after purchasing an additional 416,424 shares during the period. Hedge funds and other institutional investors own 45.87% of the company's stock.

EnLink Midstream Stock Performance

Shares of ENLC stock traded up $0.08 on Tuesday, reaching $14.74. The stock had a trading volume of 539,451 shares, compared to its average volume of 2,031,940. 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 $11.53 and a 1 year high of $14.84. The stock has a market cap of $6.80 billion, a P/E ratio of 49.12 and a beta of 2.40. The company has a 50 day simple moving average of $14.24 and a 200 day simple moving average of $13.67.

EnLink Midstream (NYSE:ENLC - Get Free Report) last announced its 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 firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.90 billion. During the same period in the previous year, the business posted $0.12 earnings per share. The company's revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts expect that EnLink Midstream will post 0.59 EPS for the current year.

EnLink Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.1325 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a yield of 3.60%. EnLink Midstream's dividend payout ratio is presently 176.67%.

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.