EnLink Midstream (NYSE:ENLC) Trading Down 9.3%

EnLink Midstream, LLC (NYSE:ENLCGet Rating)’s stock price traded down 9.3% on Friday . The stock traded as low as $8.47 and last traded at $8.55. 39,724 shares traded hands during trading, a decline of 99% from the average session volume of 2,677,578 shares. The stock had previously closed at $9.43.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ENLC shares. Mizuho boosted their price objective on shares of EnLink Midstream from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, May 27th. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued 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 $10.17.

EnLink Midstream Price Performance

The firm’s fifty day simple moving average is $9.94 and its two-hundred day simple moving average is $9.80. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.49. The firm has a market cap of $4.17 billion, a PE ratio of 24.37 and a beta of 2.66.

EnLink Midstream (NYSE:ENLCGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The pipeline company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. EnLink Midstream had a return on equity of 5.98% and a net margin of 2.00%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $1.70 billion. As a group, research analysts expect that EnLink Midstream, LLC will post 0.41 EPS for the current year.

EnLink Midstream Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.1125 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.45 annualized dividend and a dividend yield of 5.22%. EnLink Midstream’s dividend payout ratio (DPR) is 128.57%.

Insider Activity at EnLink Midstream

In related news, COO Benjamin D. Lamb sold 45,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $9.47, for a total value of $426,150.00. Following the completion of the transaction, the chief operating officer now owns 741,173 shares of the company’s stock, valued at approximately $7,018,908.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other EnLink Midstream news, COO Benjamin D. Lamb sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $9.47, for a total transaction of $426,150.00. Following the transaction, the chief operating officer now owns 741,173 shares in the company, valued at $7,018,908.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Benjamin D. Lamb sold 150,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $9.18, for a total transaction of $1,377,000.00. Following the completion of the sale, the chief operating officer now owns 935,090 shares of the company’s stock, valued at approximately $8,584,126.20. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ENLC. First Horizon Advisors Inc. grew its holdings in EnLink Midstream by 85.7% during the 1st quarter. First Horizon Advisors Inc. now owns 5,143 shares of the pipeline company’s stock worth $50,000 after acquiring an additional 2,374 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in EnLink Midstream during the 1st quarter valued at $115,000. Hodges Capital Management Inc. lifted its stake in shares of EnLink Midstream by 5.4% during the 1st quarter. Hodges Capital Management Inc. now owns 517,037 shares of the pipeline company’s stock worth $4,989,000 after purchasing an additional 26,409 shares during the last quarter. Diversified Trust Co bought a new position in EnLink Midstream in the first quarter worth about $113,000. Finally, First Dallas Securities Inc. raised its stake in shares of EnLink Midstream by 5.4% during the 1st quarter. First Dallas Securities Inc. now owns 330,333 shares of the pipeline company’s stock worth $3,188,000 after acquiring an additional 17,072 shares in the last quarter. 42.03% of the stock is currently owned by institutional investors.

EnLink Midstream Company Profile

(Get Rating)

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate 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 stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.

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