EnLink Midstream LLC (ENLC) Receives Consensus Recommendation of “Hold” from Brokerages

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EnLink Midstream LLC (NYSE:ENLC) has been assigned a consensus rating of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.79.

ENLC has been the topic of several recent analyst reports. ValuEngine cut shares of EnLink Midstream from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 18th. Robert W. Baird restated a “hold” rating and issued a $18.00 target price on shares of EnLink Midstream in a report on Monday, August 6th. Raymond James restated a “buy” rating and issued a $19.00 target price on shares of EnLink Midstream in a report on Friday, August 17th. Barclays raised their target price on shares of EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. Finally, Zacks Investment Research cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th.

Shares of NYSE ENLC opened at $13.00 on Thursday. EnLink Midstream has a one year low of $12.73 and a one year high of $20.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -260.00 and a beta of 2.62.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, July 31st. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). EnLink Midstream had a net margin of 3.73% and a return on equity of 0.86%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business earned $0.15 earnings per share. The firm’s revenue was up 39.7% on a year-over-year basis. As a group, sell-side analysts predict that EnLink Midstream will post 0.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, October 29th will be paid a $0.271 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, October 26th. This represents a $1.08 dividend on an annualized basis and a yield of 8.34%. EnLink Midstream’s dividend payout ratio (DPR) is presently -2,160.00%.

In related news, EVP Alaina K. Brooks sold 48,442 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $17.36, for a total value of $840,953.12. Following the completion of the sale, the executive vice president now owns 78,190 shares of the company’s stock, valued at $1,357,378.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.24% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ENLC. Wells Fargo & Company MN lifted its position in EnLink Midstream by 4.9% during the first quarter. Wells Fargo & Company MN now owns 80,712 shares of the pipeline company’s stock valued at $1,182,000 after buying an additional 3,748 shares during the period. JPMorgan Chase & Co. lifted its position in EnLink Midstream by 183.9% during the first quarter. JPMorgan Chase & Co. now owns 171,589 shares of the pipeline company’s stock valued at $2,515,000 after buying an additional 111,147 shares during the period. Russell Investments Group Ltd. lifted its position in EnLink Midstream by 110.1% during the first quarter. Russell Investments Group Ltd. now owns 7,934 shares of the pipeline company’s stock valued at $116,000 after buying an additional 4,157 shares during the period. Guggenheim Capital LLC lifted its position in EnLink Midstream by 41.1% during the first quarter. Guggenheim Capital LLC now owns 49,900 shares of the pipeline company’s stock valued at $731,000 after buying an additional 14,545 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in EnLink Midstream by 365.0% during the first quarter. Cubist Systematic Strategies LLC now owns 8,161 shares of the pipeline company’s stock valued at $120,000 after buying an additional 6,406 shares during the period. 32.04% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.

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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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