EnLink Midstream, LLC (NYSE:ENLC) receives average PT of $15.33 from brokerage

VaselineAugust 11, 2024

0 3 minutes read

EnLink Midstream, LLC (NYSE:ENLC – Get Your Free Report ) has been assigned an average rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.33.

A number of analysts recently commented on the company. StockNews.com lowered EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Citigroup upped their target price on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised EnLink Midstream from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $13.00 to $17.00 in a research note on Monday , July 8. Finally, JPMorgan Chase & Co. boosted their price target on EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th.

Read our latest analysis on EnLink Midstream

EnLink Midstream Stock Falls 2.1%

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Shares of NYSE:ENLC opened at $11.94 on Thursday. EnLink Midstream has a 52 week low of $11.44 and a 52 week high of $14.38. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.78, and a current ratio of 0.78. The company’s fifty day moving average is $13.43 and its 200 day moving average is $13.10. The company has a market cap of $5.39 billion, a PE ratio of 34.11 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a return on equity of 8.09% and a net margin of 2.15%. The company’s quarterly revenue was up 1.4% year over year. In the same quarter last year, the company earned $0.12 EPS. equities research analysts forecast that EnLink Midstream will post 0.65 earnings per share for the current fiscal year.

EnLink Midstream Raises Dividends

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd will be paid a dividend of $0.1325 per share. This represents a dividend of $0.53 on an annualized basis and a dividend yield of 4.44%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 2. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

Institutional trading of EnLink Midstream

A number of hedge funds have recently made changes to their positions in ENLC. Hennessy Advisors Inc. raised its stake in EnLink Midstream by 1,614.2% in the fourth quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock worth $22,721,000 after acquiring an additional 1,759,500 shares during the period. Chickasaw Capital Management LLC boosted its stake in EnLink Midstream by 5.5% in the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock worth $200,924,000 after acquiring an additional 759,994 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of EnLink Midstream by 22.8% in the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock worth $30,629,000 after acquiring an additional 416,424 shares during the period. Wells Fargo & Company MN boosted its stake in EnLink Midstream by 56.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,034,809 shares of the pipeline company’s stock worth $12,583,000 after acquiring an additional 373,969 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of EnLink Midstream by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,736,175 shares of the pipeline company’s stock worth $81,911,000 after acquiring an additional 342,204 shares during the period. 45.87% of shares are owned by institutional investors and hedge funds.

EnLink Midstream Company Profile

(Get a free report

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through the Permian, Louisiana, Oklahoma, North Texas and Corporate segments. It is involved in the collection, compression, treatment, processing, transportation, storage and sale of natural gas; fractionation, transportation, storage and sale of natural gas liquids; and gathering, transporting, stabilizing, storing, transshipping and selling crude oil and condensate, as well as providing brine disposal services.