Shares of EnLink Midstream, LLC (NYSE:ENLC) have received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $18.82.
Several research firms have commented on ENLC. BidaskClub raised EnLink Midstream from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Robert W. Baird set a $21.00 target price on EnLink Midstream and gave the stock a “hold” rating in a report on Friday, November 17th. Seaport Global Securities began coverage on EnLink Midstream in a report on Tuesday, October 10th. They issued a “neutral” rating and a $16.00 target price on the stock. Citigroup dropped their target price on EnLink Midstream from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Finally, ValuEngine downgraded EnLink Midstream from a “hold” rating to a “sell” rating in a report on Friday, September 1st.
Shares of EnLink Midstream (NYSE ENLC) opened at $16.50 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65. EnLink Midstream has a 1-year low of $15.00 and a 1-year high of $20.45. The company has a market capitalization of $2,979.72, a price-to-earnings ratio of 550.00 and a beta of 2.58.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Wednesday, November 1st were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend was Tuesday, October 31st. EnLink Midstream’s payout ratio is currently 3,401.13%.
Several large investors have recently made changes to their positions in ENLC. Citadel Advisors LLC lifted its holdings in shares of EnLink Midstream by 1,195.1% during the third quarter. Citadel Advisors LLC now owns 610,937 shares of the pipeline company’s stock valued at $10,539,000 after purchasing an additional 563,764 shares in the last quarter. Principal Financial Group Inc. increased its position in EnLink Midstream by 33.2% during the second quarter. Principal Financial Group Inc. now owns 2,101,858 shares of the pipeline company’s stock valued at $36,993,000 after acquiring an additional 523,482 shares during the last quarter. Dimensional Fund Advisors LP increased its position in EnLink Midstream by 14.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock valued at $42,577,000 after acquiring an additional 314,840 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in EnLink Midstream by 8.0% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 3,737,067 shares of the pipeline company’s stock valued at $64,464,000 after acquiring an additional 275,225 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in EnLink Midstream by 142.8% during the second quarter. Lazard Asset Management LLC now owns 400,652 shares of the pipeline company’s stock valued at $7,051,000 after acquiring an additional 235,609 shares during the last quarter. 34.09% of the stock is currently owned by hedge funds and other 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.
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