EnLink Midstream's (ENLC) Neutral Rating Reaffirmed at Mizuho

Mizuho reissued their neutral rating on shares of EnLink Midstream (NYSE:ENLC - Free Report) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. Mizuho currently has a $15.00 price objective on the pipeline company's stock.

A number of other research firms also recently commented on ENLC. StockNews.com raised EnLink Midstream from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th. Morgan Stanley downgraded shares of EnLink Midstream from an "overweight" rating to an "equal weight" rating and set a $16.00 price objective on the stock. in a report on Monday, September 16th. Capital One Financial reissued an "equal weight" rating and set a $16.00 target price on shares of EnLink Midstream in a report on Tuesday, September 3rd. 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 report on Friday, August 16th. Finally, Tudor Pickering raised EnLink Midstream to a "strong-buy" rating in a research report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EnLink Midstream currently has an average rating of "Hold" and a consensus target price of $15.40.

EnLink Midstream Stock Down 0.4 %

EnLink Midstream stock traded down $0.06 during mid-day trading on Thursday, reaching $14.84. 1,796,084 shares of the company were exchanged, compared to its average volume of 2,015,628. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $14.96. The business has a fifty day moving average of $14.44 and a 200 day moving average of $13.72. The firm has a market cap of $6.85 billion, a P/E ratio of 49.57 and a beta of 2.40. 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 (NYSE:ENLC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share 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 company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned $0.12 EPS. EnLink Midstream's revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts anticipate that EnLink Midstream will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

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 paid a $0.1325 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.57%. EnLink Midstream's dividend payout ratio is presently 176.67%.

Insider Buying and Selling

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream 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 legal filing with the SEC, which is available at this link. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ENLC. Catalyst Capital Advisors LLC lifted its holdings in EnLink Midstream by 120.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company's stock valued at $30,348,000 after purchasing an additional 1,141,254 shares in the last quarter. Van ECK Associates Corp raised its position in shares of EnLink Midstream by 100.8% in the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company's stock valued at $1,883,000 after buying an additional 63,997 shares during the last quarter. Inscription Capital LLC purchased a new position in shares of EnLink Midstream in the third quarter worth about $154,000. Insight Folios Inc boosted its position in EnLink Midstream by 16.3% during the third quarter. Insight Folios Inc now owns 25,077 shares of the pipeline company's stock worth $364,000 after acquiring an additional 3,510 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in EnLink Midstream by 13.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,090 shares of the pipeline company's stock valued at $233,000 after acquiring an additional 1,958 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.