A number of research firms have changed their ratings and price targets for EnLink Midstream (NYSE: ENLC):

  • 8/11/2019 – EnLink Midstream had its “buy” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $12.00 price target on the stock.
  • 8/7/2019 – EnLink Midstream was downgraded by analysts at Mitsubishi UFJ Financial Group from an “overweight” rating to a “neutral” rating. They now have a $10.00 price target on the stock, down previously from $15.00.
  • 8/1/2019 – EnLink Midstream was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/25/2019 – EnLink Midstream is now covered by analysts at Mizuho. They set a “neutral” rating and a $11.50 price target on the stock.
  • 7/18/2019 – EnLink Midstream had its “hold” rating reaffirmed by analysts at Barclays PLC. They now have a $12.00 price target on the stock.
  • 7/15/2019 – EnLink Midstream was upgraded by analysts at Jefferies Financial Group Inc from a “hold” rating to a “buy” rating. They now have a $12.00 price target on the stock, down previously from $13.00.

NYSE ENLC traded down $0.19 on Wednesday, reaching $7.21. 37,608 shares of the stock traded hands, compared to its average volume of 2,712,906. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $9.65. The company has a market cap of $3.65 billion, a P/E ratio of -103.00, a price-to-earnings-growth ratio of 6.51 and a beta of 2.00. EnLink Midstream LLC has a 12 month low of $7.20 and a 12 month high of $17.65.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.85 billion. EnLink Midstream had a negative net margin of 3.21% and a negative return on equity of 0.16%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. Equities analysts anticipate that EnLink Midstream LLC will post 0.3 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Monday, July 29th were given a dividend of $0.283 per share. The ex-dividend date of this dividend was Friday, July 26th. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. This represents a $1.13 dividend on an annualized basis and a yield of 15.70%. EnLink Midstream’s payout ratio is -1,614.29%.

In other news, Chairman Barry E. Davis bought 136,700 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $7.32 per share, with a total value of $1,000,644.00. Following the transaction, the chairman now directly owns 1,892,372 shares in the company, valued at approximately $13,852,163.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.45% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENLC. BlackRock Inc. raised its stake in EnLink Midstream by 11.7% during the 4th quarter. BlackRock Inc. now owns 475,306 shares of the pipeline company’s stock valued at $4,512,000 after purchasing an additional 49,855 shares during the period. Northern Trust Corp grew its holdings in EnLink Midstream by 1.7% during the 4th quarter. Northern Trust Corp now owns 304,449 shares of the pipeline company’s stock valued at $2,890,000 after buying an additional 4,988 shares in the last quarter. Two Sigma Advisers LP grew its holdings in EnLink Midstream by 5.8% during the 4th quarter. Two Sigma Advisers LP now owns 40,500 shares of the pipeline company’s stock valued at $384,000 after buying an additional 2,220 shares in the last quarter. Bank of America Corp DE grew its holdings in EnLink Midstream by 686.1% during the 4th quarter. Bank of America Corp DE now owns 179,939 shares of the pipeline company’s stock valued at $1,707,000 after buying an additional 157,048 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in EnLink Midstream by 263.3% during the 4th quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock valued at $38,000 after buying an additional 2,899 shares in the last quarter. 48.92% of the stock is owned by hedge funds and other institutional investors.

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.

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