EnLink Midstream LLC (ENLC) Lowered to Sell at Zacks Investment Research
According to Zacks, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas. “
ENLC has been the subject of several other research reports. Barclays PLC raised their target price on EnLink Midstream from $16.00 to $17.00 and gave the stock an equal weight rating in a research report on Wednesday, August 17th. Wunderlich raised their target price on EnLink Midstream from $16.00 to $18.00 and gave the stock a hold rating in a research report on Wednesday, August 31st. RBC Capital Markets restated a sector perform rating and set a $19.00 target price (up previously from $14.00) on shares of EnLink Midstream in a research report on Sunday, September 4th. Credit Suisse Group AG downgraded EnLink Midstream from a neutral rating to an underperform rating and set a $17.00 target price for the company. in a research report on Tuesday, September 13th. Finally, Royal Bank Of Canada raised their price target on EnLink Midstream from $14.00 to $19.00 and gave the company a sector perform rating in a report on Friday, September 2nd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. EnLink Midstream currently has a consensus rating of Hold and an average target price of $17.00.
Shares of EnLink Midstream (NYSE:ENLC) opened at 18.05 on Friday. The firm’s market cap is $3.25 billion. The stock has a 50 day moving average price of $16.41 and a 200 day moving average price of $16.04. EnLink Midstream has a one year low of $6.41 and a one year high of $18.75.
The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were issued a $0.255 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.65%. EnLink Midstream’s dividend payout ratio (DPR) is -27.35%.
Several hedge funds have recently modified their holdings of ENLC. Bank of New York Mellon Corp raised its stake in shares of EnLink Midstream by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 81,878 shares of the company’s stock worth $1,302,000 after buying an additional 320 shares during the period. Pointe Capital Management LLC raised its stake in shares of EnLink Midstream by 0.8% in the third quarter. Pointe Capital Management LLC now owns 57,127 shares of the company’s stock worth $957,000 after buying an additional 444 shares during the period. Signaturefd LLC raised its stake in shares of EnLink Midstream by 1.0% in the second quarter. Signaturefd LLC now owns 52,200 shares of the company’s stock worth $831,000 after buying an additional 500 shares during the period. LPL Financial LLC raised its stake in shares of EnLink Midstream by 3.9% in the third quarter. LPL Financial LLC now owns 21,404 shares of the company’s stock worth $345,000 after buying an additional 794 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of EnLink Midstream by 24.3% in the second quarter. Teacher Retirement System of Texas now owns 7,489 shares of the company’s stock worth $119,000 after buying an additional 1,464 shares during the period. Institutional investors own 28.83% of the company’s stock.
EnLink Midstream Company Profile
EnLink Midstream, LLC is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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