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. “
Zacks Investment Research upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a report released on Wednesday. The firm currently has $13.00 price objective on the pipeline company’s stock.
ENLC has been the topic of a number of other research reports. Stifel Nicolaus initiated coverage on shares of EnLink Midstream in a research report on Friday, February 8th. They set a buy rating and a $13.00 price target on the stock. Jefferies Financial Group raised shares of EnLink Midstream from a hold rating to a buy rating in a research report on Thursday, December 20th. Mitsubishi UFJ Financial Group raised shares of EnLink Midstream from a neutral rating to an overweight rating in a research report on Wednesday, February 20th. Credit Suisse Group raised shares of EnLink Midstream from a neutral rating to an outperform rating and set a $19.00 price target on the stock in a research report on Tuesday, November 13th. Finally, Citigroup initiated coverage on shares of EnLink Midstream in a research report on Tuesday. They set a buy rating and a $13.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. EnLink Midstream currently has an average rating of Hold and a consensus target price of $16.57.
NYSE ENLC opened at $11.60 on Wednesday. The firm has a market capitalization of $5.53 billion, a P/E ratio of -165.71, a P/E/G ratio of 8.91 and a beta of 2.27. EnLink Midstream has a twelve month low of $8.90 and a twelve month high of $18.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.81 and a quick ratio of 0.81.
EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, February 19th. The pipeline company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.51). The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.12 billion. EnLink Midstream had a negative net margin of 0.17% and a negative return on equity of 0.25%. On average, sell-side analysts anticipate that EnLink Midstream will post 0.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Thursday, January 24th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 9.48%. The ex-dividend date of this dividend was Wednesday, January 23rd. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.27. EnLink Midstream’s dividend payout ratio is -1,571.43%.
In related news, major shareholder Goldman Sachs Group Inc acquired 24,791 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were bought at an average price of $10.86 per share, with a total value of $269,230.26. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.45% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of EnLink Midstream by 10.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,314,300 shares of the pipeline company’s stock worth $40,943,000 after purchasing an additional 395,089 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of EnLink Midstream by 263.3% during the 4th quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 2,899 shares in the last quarter. Zimmer Partners LP bought a new position in shares of EnLink Midstream during the 4th quarter worth about $3,760,000. Bank of America Corp DE lifted its position in EnLink Midstream by 686.1% in the 4th quarter. Bank of America Corp DE now owns 179,939 shares of the pipeline company’s stock valued at $1,707,000 after acquiring an additional 157,048 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in EnLink Midstream by 5.8% in the 4th quarter. Two Sigma Advisers LP now owns 40,500 shares of the pipeline company’s stock valued at $384,000 after acquiring an additional 2,220 shares in the last quarter. 33.57% of the stock is currently owned by institutional investors.
About EnLink Midstream
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate 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 gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.
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