EnLink Midstream, LLC (NYSE:ENLC) Receives $14.29 Average Price Target from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.33.

ENLC has been the topic of a number of analyst reports. Citigroup lifted their price target on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target 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. Capital One Financial began coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective on the stock. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, UBS Group lifted their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 18th.

Insider Buying and Selling at EnLink Midstream

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of EnLink Midstream by 70.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock valued at $152,247,000 after purchasing an additional 5,152,252 shares during the period. Alps Advisors Inc. boosted its stake in EnLink Midstream by 11.0% in the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after buying an additional 4,200,733 shares in the last quarter. Hennessy Advisors Inc. grew its position in EnLink Midstream by 1,614.2% in the fourth 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 during the period. Kayne Anderson Capital Advisors LP raised its stake in EnLink Midstream by 79.1% during the third quarter. Kayne Anderson Capital Advisors LP now owns 1,749,100 shares of the pipeline company’s stock worth $21,374,000 after acquiring an additional 772,700 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of EnLink Midstream by 13.9% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company’s stock valued at $37,618,000 after acquiring an additional 378,450 shares during the period. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Up 0.3 %

ENLC stock opened at $12.84 on Tuesday. The firm has a market cap of $5.82 billion, a PE ratio of 36.69 and a beta of 2.39. EnLink Midstream has a 12 month low of $8.55 and a 12 month high of $14.18. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a 50 day simple moving average of $13.25 and a 200 day simple moving average of $12.70.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. Equities research analysts forecast that EnLink Midstream will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, April 26th will be issued a dividend of $0.132 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 annualized dividend and a dividend yield of 4.11%. EnLink Midstream’s dividend payout ratio is 151.43%.

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.