ValuEngine cut shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a sell rating in a report released on Friday.
A number of other research analysts have also recently commented on the company. B. Riley assumed coverage on EnLink Midstream in a report on Friday, January 26th. They issued a neutral rating and a $18.00 price objective on the stock. Royal Bank of Canada reiterated a hold rating and issued a $20.00 price objective on shares of EnLink Midstream in a report on Tuesday, January 16th. Jefferies Group reiterated a hold rating and issued a $16.00 price objective on shares of EnLink Midstream in a report on Friday, January 12th. Bank of America assumed coverage on EnLink Midstream in a report on Tuesday, January 9th. They issued a neutral rating on the stock. Finally, Credit Suisse Group assumed coverage on EnLink Midstream in a report on Thursday, January 4th. They issued a neutral rating and a $19.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $18.77.
EnLink Midstream (NYSE:ENLC) opened at $17.40 on Friday. EnLink Midstream has a twelve month low of $15.00 and a twelve month high of $20.45. The company has a market capitalization of $3,140.00, a P/E ratio of 580.00 and a beta of 2.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be given a $0.259 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, January 30th. This represents a $1.04 dividend on an annualized basis and a yield of 5.95%. EnLink Midstream’s payout ratio is presently 3,466.67%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. raised its position in EnLink Midstream by 14.0% in the fourth quarter. Alps Advisors Inc. now owns 64,560 shares of the pipeline company’s stock valued at $1,136,000 after purchasing an additional 7,944 shares during the period. Gator Capital Management LLC purchased a new stake in EnLink Midstream in the fourth quarter valued at approximately $296,000. Engineers Gate Manager LP purchased a new stake in EnLink Midstream in the fourth quarter valued at approximately $214,000. Jennison Associates LLC raised its position in EnLink Midstream by 22.6% in the fourth quarter. Jennison Associates LLC now owns 441,273 shares of the pipeline company’s stock valued at $7,766,000 after purchasing an additional 81,228 shares during the period. Finally, Chickasaw Capital Management LLC raised its position in EnLink Midstream by 3.0% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,898,889 shares of the pipeline company’s stock valued at $279,820,000 after purchasing an additional 456,251 shares during the period. 34.38% of the stock is currently owned by institutional investors.
About EnLink Midstream
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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