EnLink Midstream (NYSE:ENLC) Sets New 12-Month High at $6.74

EnLink Midstream, LLC (NYSE:ENLC)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $6.74 and last traded at $6.70, with a volume of 70371 shares changing hands. The stock had previously closed at $6.36.

Several equities analysts have commented on the company. US Capital Advisors raised EnLink Midstream from a “hold” rating to an “overweight” rating in a report on Friday, August 13th. Morgan Stanley upped their price target on EnLink Midstream from $4.00 to $5.00 and gave the company an “underweight” rating in a report on Monday, June 7th. Raymond James raised EnLink Midstream from a “market perform” rating to an “outperform” rating and upped their price target for the company from $6.25 to $7.50 in a report on Monday, June 14th. Zacks Investment Research raised EnLink Midstream from a “sell” rating to a “hold” rating in a report on Wednesday, August 18th. Finally, Mizuho upped their price target on EnLink Midstream from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, August 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.47.

The company has a market capitalization of $3.31 billion, a P/E ratio of -19.14 and a beta of 3.55. The firm has a 50 day moving average price of $5.63 and a two-hundred day moving average price of $5.24. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.78 and a current ratio of 0.78.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, August 3rd. The pipeline company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.27 billion. EnLink Midstream had a negative net margin of 3.72% and a negative return on equity of 0.18%. On average, equities analysts expect that EnLink Midstream, LLC will post 0.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were given a dividend of $0.0938 per share. The ex-dividend date was Thursday, July 29th. This represents a $0.38 dividend on an annualized basis and a yield of 5.54%. EnLink Midstream’s dividend payout ratio (DPR) is presently 152.00%.

In other EnLink Midstream news, major shareholder Egypt Holdings Lp Wsip purchased 8,539 shares of the firm’s stock in a transaction that occurred on Thursday, July 29th. The shares were acquired at an average cost of $5.78 per share, for a total transaction of $49,355.42. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have purchased 12,451 shares of company stock worth $66,955. 0.84% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of ENLC. Newbridge Financial Services Group Inc. acquired a new position in EnLink Midstream during the 2nd quarter worth $61,000. GSA Capital Partners LLP acquired a new position in EnLink Midstream during the 1st quarter worth $65,000. Trust Co. of Oklahoma acquired a new position in EnLink Midstream during the 2nd quarter worth $65,000. Mercer Global Advisors Inc. ADV acquired a new position in EnLink Midstream during the 1st quarter worth $70,000. Finally, Bridgefront Capital LLC acquired a new position in EnLink Midstream during the 2nd quarter worth $71,000. 37.51% of the stock is currently owned by hedge funds and other institutional investors.

About EnLink Midstream (NYSE:ENLC)

EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, North Texas, Oklahoma, Louisiana, and Corporate. The Permian segment includes natural gas gathering, processing, and transmission activities and crude oil operations in the Midland and Delaware Basins in West Texas and Eastern New Mexico and crude operations in South Texas.

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