EnLink Midstream Partners, LP (NYSE:ENLK) announced a quarterly dividend on Thursday, April 19th, Zacks reports. Stockholders of record on Monday, April 30th will be paid a dividend of 0.39 per share by the oil and gas producer on Monday, May 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.00%. The ex-dividend date of this dividend is Friday, April 27th.
EnLink Midstream Partners has raised its dividend payment by an average of 12.5% per year over the last three years. EnLink Midstream Partners has a dividend payout ratio of 7,800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect EnLink Midstream Partners to earn $0.31 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 503.2%.
Shares of ENLK opened at $14.18 on Thursday. EnLink Midstream Partners has a 52 week low of $12.75 and a 52 week high of $18.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4,844.32, a PE ratio of 472.67 and a beta of 2.13.
A number of analysts have recently commented on the company. UBS restated a “buy” rating and issued a $18.00 target price (down previously from $20.00) on shares of EnLink Midstream Partners in a research note on Friday, March 2nd. Bank of America upped their price target on EnLink Midstream Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Robert W. Baird set a $20.00 price target on EnLink Midstream Partners and gave the stock a “buy” rating in a report on Monday, February 12th. Guggenheim set a $16.00 price target on EnLink Midstream Partners and gave the stock a “hold” rating in a report on Monday, April 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $18.00 price target (down previously from $19.00) on shares of EnLink Midstream Partners in a report on Friday, March 9th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $16.62.
A hedge fund recently raised its stake in EnLink Midstream Partners stock. The Manufacturers Life Insurance Company raised its position in shares of EnLink Midstream Partners, LP (NYSE:ENLK) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,147 shares of the oil and gas producer’s stock after acquiring an additional 816 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in EnLink Midstream Partners were worth $189,000 as of its most recent SEC filing. 41.36% of the stock is owned by hedge funds and other institutional investors.
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About EnLink Midstream Partners
EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.
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