EnLink Midstream (NYSE:ENLC) Raised to Hold at Mizuho

Mizuho upgraded shares of EnLink Midstream (NYSE:ENLC - Free Report) to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

Several other equities analysts also recently issued reports on ENLC. Capital One Financial reaffirmed an "equal weight" rating and set a $16.00 price objective on shares of EnLink Midstream in a report on Tuesday, September 3rd. Stifel Nicolaus cut EnLink Midstream from a "buy" rating to a "hold" rating and set a $15.00 price objective on the stock. in a report on Friday, August 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, August 29th. Tudor, Pickering, Holt & Co. upgraded EnLink Midstream from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Friday, August 16th. Finally, UBS Group cut EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 price target for the company. in a research report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.40.

EnLink Midstream Stock Performance

Shares of ENLC traded down $0.15 during trading hours on Wednesday, reaching $14.69. 867,234 shares of the company traded hands, compared to its average volume of 2,012,379. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $14.96. 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 stock has a market capitalization of $6.78 billion, a P/E ratio of 49.43 and a beta of 2.40. The business has a fifty day moving average price of $14.48 and a 200-day moving average price of $13.73.

EnLink Midstream (NYSE:ENLC - Get Free Report) last released 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). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The firm's revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. Equities analysts anticipate that EnLink Midstream will post 0.58 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The firm also recently disclosed 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. This represents a $0.53 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Friday, November 1st. EnLink Midstream's dividend payout ratio is presently 176.67%.

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 that occurred 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 through the SEC website. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On EnLink Midstream

Several institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in shares of EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company's stock worth $106,000 after buying an additional 853 shares in the last quarter. First Dallas Securities Inc. increased its holdings in EnLink Midstream by 0.6% in the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company's stock valued at $2,182,000 after buying an additional 960 shares during the last quarter. Callahan Advisors LLC raised its stake in EnLink Midstream by 8.7% in the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company's stock valued at $172,000 after buying an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in EnLink Midstream by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company's stock worth $191,000 after buying an additional 1,151 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company's stock worth $116,000 after acquiring an additional 1,511 shares in the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

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.