Credit Suisse Group Downgrades EnLink Midstream (NYSE:ENLC) to Neutral

Credit Suisse Group cut shares of EnLink Midstream (NYSE:ENLC) from an outperform rating to a neutral rating in a research note published on Monday morning, BenzingaRatingsTable reports. They currently have $8.00 target price on the pipeline company’s stock, down from their previous target price of $13.50.

Several other equities research analysts also recently commented on the company. ValuEngine upgraded EnLink Midstream from a sell rating to a hold rating in a report on Thursday, August 1st. Barclays restated a hold rating and set a $12.00 price objective on shares of EnLink Midstream in a report on Thursday, July 18th. Jefferies Financial Group upgraded EnLink Midstream from a hold rating to a buy rating and decreased their price objective for the company from $13.00 to $12.00 in a report on Monday, July 15th. Royal Bank of Canada restated a buy rating and set a $12.00 price objective on shares of EnLink Midstream in a report on Sunday, August 11th. Finally, Mizuho assumed coverage on EnLink Midstream in a report on Thursday, July 25th. They set a neutral rating and a $11.50 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $11.61.

NYSE ENLC opened at $8.08 on Monday. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -115.43, a P/E/G ratio of 6.55 and a beta of 2.00. EnLink Midstream has a 52 week low of $7.14 and a 52 week high of $17.65. The business has a 50 day moving average price of $9.29 and a 200-day moving average price of $10.77. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ 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 was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, equities research analysts anticipate that EnLink Midstream will post 0.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Monday, July 29th were given a dividend of $0.283 per share. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.13 annualized dividend and a dividend yield of 14.01%. EnLink Midstream’s payout ratio is presently -1,614.29%.

In related news, Director Kyle D. Vann bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $7.44 per share, with a total value of $148,800.00. Following the completion of the transaction, the director now directly owns 99,907 shares in the company, valued at $743,308.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Barry E. Davis bought 136,700 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $7.32 per share, for a total transaction of $1,000,644.00. Following the transaction, the chairman now owns 1,892,372 shares of the company’s stock, valued at $13,852,163.04. The disclosure for this purchase can be found here. 1.45% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. Avestar Capital LLC purchased a new stake in shares of EnLink Midstream during the 1st quarter worth $28,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in EnLink Midstream during the first quarter worth about $31,000. Arlington Partners LLC purchased a new stake in shares of EnLink Midstream in the second quarter valued at about $30,000. Cullen Frost Bankers Inc. purchased a new stake in shares of EnLink Midstream in the first quarter valued at about $44,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of EnLink Midstream in the second quarter valued at about $35,000. 49.45% of the stock is currently owned by institutional investors.

EnLink Midstream Company Profile

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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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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