EnLink Midstream’s (ENLC) Neutral Rating Reaffirmed at Mizuho

Mizuho restated their neutral rating on shares of EnLink Midstream (NYSE:ENLC) in a research report released on Thursday morning, MarketBeat.com reports. The firm currently has a $15.00 price target on the pipeline company’s stock.

A number of other equities research analysts have also recently issued reports on ENLC. Royal Bank of Canada restated a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, August 29th. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a report on Monday, September 30th. Capital One Financial reissued an “equal weight” rating and set a $16.00 target price on shares of EnLink Midstream in a report on Tuesday, September 3rd. Wells Fargo & Company downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $16.00 to $15.00 in a research note on Friday, August 30th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, August 16th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.40.

EnLink Midstream Stock Performance

Shares of ENLC traded down $0.03 during midday trading on Thursday, reaching $14.81. The stock had a trading volume of 180,165 shares, compared to its average volume of 2,009,139. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm has a 50 day simple moving average of $14.48 and a 200-day simple moving average of $13.73. The firm has a market cap of $6.83 billion, a PE ratio of 49.43 and a beta of 2.40. EnLink Midstream has a one year low of $11.53 and a one year high of $14.96.

EnLink Midstream (NYSE:ENLC) 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). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the firm earned $0.12 EPS. EnLink Midstream’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that EnLink Midstream will post 0.58 EPS 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 given a dividend of $0.1325 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.58%. EnLink Midstream’s dividend payout ratio is 176.67%.

Insider Activity at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC bought a new stake in shares of EnLink Midstream during the 2nd quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of EnLink Midstream in the 2nd quarter valued at $56,000. SG Americas Securities LLC acquired a new stake in shares of EnLink Midstream during the 1st quarter valued at $105,000. First Horizon Advisors Inc. grew its position in EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 853 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 1,511 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

About EnLink Midstream

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.