EnLink Midstream (NYSE:ENLC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a research report report published on Monday.

A number of other research firms have also recently weighed in on ENLC. JPMorgan Chase & Co. cut their price objective on shares of EnLink Midstream from $15.00 to $14.00 and set a neutral rating on the stock in a report on Thursday, February 29th. UBS Group lifted their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a buy rating in a report on Thursday, January 18th. Finally, Capital One Financial assumed coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They issued an overweight rating and a $15.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, EnLink Midstream presently has an average rating of Moderate Buy and an average target price of $14.43.

EnLink Midstream Trading Up 2.2 %

Shares of ENLC stock opened at $13.64 on Monday. The company has a 50-day moving average of $12.39 and a two-hundred day moving average of $12.46. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84. EnLink Midstream has a 1-year low of $8.45 and a 1-year high of $13.98. The firm has a market cap of $6.18 billion, a PE ratio of 31.00 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. On average, analysts predict that EnLink Midstream will post 0.6 EPS for the current year.

EnLink Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Monday, January 29th were paid a $0.1325 dividend. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, January 26th. This represents a $0.53 annualized dividend and a yield of 3.89%. EnLink Midstream’s payout ratio is presently 120.46%.

Insider Activity at EnLink Midstream

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the transaction, the chief financial officer now owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the sale, the chief financial officer now owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value of $616,000.00. Following the sale, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of EnLink Midstream by 240.5% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,500 shares of the pipeline company’s stock valued at $4,530,000 after buying an additional 263,100 shares during the last quarter. Hennessy Advisors Inc. raised its position in shares of EnLink Midstream by 1,614.2% during the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after acquiring an additional 1,759,500 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of EnLink Midstream by 1.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after acquiring an additional 186,801 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of EnLink Midstream during the 4th quarter valued at approximately $658,000. Finally, Legal & General Group Plc raised its position in shares of EnLink Midstream by 0.7% during the 4th quarter. Legal & General Group Plc now owns 212,310 shares of the pipeline company’s stock valued at $2,582,000 after acquiring an additional 1,550 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

EnLink Midstream Company Profile

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It 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.