EnLink Midstream LLC (ENLC) Receives Consensus Recommendation of “Hold” from Brokerages
EnLink Midstream LLC (NYSE:ENLC) has received a consensus recommendation of “Hold” from the seventeen research firms that are presently covering the stock. Five research 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 on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.82.
Several research firms have weighed in on ENLC. Zacks Investment Research downgraded shares of EnLink Midstream from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Group reiterated a “hold” rating and set a $16.00 price objective on shares of EnLink Midstream in a report on Sunday, October 16th. Goldman Sachs Group Inc. cut shares of EnLink Midstream from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $15.00 to $14.00 in a report on Monday, September 19th. Credit Suisse Group AG cut shares of EnLink Midstream from a “neutral” rating to an “underperform” rating and set a $17.00 price objective for the company. in a report on Tuesday, September 13th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $19.00 price objective (up from $14.00) on shares of EnLink Midstream in a report on Sunday, September 4th.
EnLink Midstream (NYSE:ENLC) traded down 2.355% on Monday, reaching $17.625. 122,194 shares of the company’s stock traded hands. EnLink Midstream has a 52-week low of $6.41 and a 52-week high of $18.75. The stock’s market cap is $3.17 billion. The company’s 50 day moving average is $16.41 and its 200-day moving average is $16.04.
The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date was Thursday, October 27th. EnLink Midstream’s payout ratio is -27.35%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its position in EnLink Midstream by 22.5% in the second quarter. Swiss National Bank now owns 93,223 shares of the company’s stock worth $1,483,000 after buying an additional 17,100 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in EnLink Midstream during the second quarter worth $812,000. Gargoyle Investment Advisor L.L.C. bought a new position in EnLink Midstream during the second quarter worth $598,000. Glenmede Trust Co. NA acquired a new stake in EnLink Midstream during the second quarter valued at about $690,000. Finally, Alps Advisors Inc. acquired a new stake in EnLink Midstream during the second quarter valued at about $964,000. Hedge funds and other 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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