EnLink Midstream (NYSE:ENLC) Hits New 12-Month High – What’s Next?

by · The Cerbat Gem

Shares of EnLink Midstream, LLC (NYSE:ENLC – Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $14.96 and last traded at $14.93, with a volume of 1092682 shares changing hands. The stock had previously closed at $14.71.

Analysts Set New Price Targets

A number of research firms recently weighed in on ENLC. Mizuho restated a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday. Capital One Financial restated an “equal weight” rating and issued a $16.00 price target on shares of EnLink Midstream in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Wells Fargo & Company downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $16.00 to $15.00 in a report on Friday, August 30th. Finally, Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, EnLink Midstream presently has a consensus rating of “Hold” and a consensus price target of $15.40.

View Our Latest Stock Analysis on ENLC

EnLink Midstream Price Performance

The company’s 50-day moving average is $14.51 and its 200-day moving average is $13.74. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 49.60 and a beta of 2.41. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65.

EnLink Midstream (NYSE:ENLC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. On average, research analysts expect that EnLink Midstream, LLC will post 0.58 earnings per share for the current year.

EnLink Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Friday, November 1st. EnLink Midstream’s payout ratio is 176.67%.

Insider Buying and Selling

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is currently owned by insiders.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC lifted its stake in EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after purchasing an additional 1,141,254 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of EnLink Midstream by 100.8% during the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after purchasing an additional 63,997 shares during the period. Inscription Capital LLC acquired a new stake in shares of EnLink Midstream in the 3rd quarter worth approximately $154,000. Insight Folios Inc lifted its position in EnLink Midstream by 16.3% in the third quarter. Insight Folios Inc now owns 25,077 shares of the pipeline company’s stock worth $364,000 after purchasing an additional 3,510 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of EnLink Midstream by 13.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,090 shares of the pipeline company’s stock valued at $233,000 after buying an additional 1,958 shares during the period. Institutional investors own 45.87% of the company’s stock.

About EnLink Midstream

(Get Free Report)

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.

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