Brokerages Set EnLink Midstream, LLC (NYSE:ENLC) Price Target at $15.33

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $15.33.

A number of brokerages have commented on ENLC. Citigroup lifted their target price on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company upgraded EnLink Midstream from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $13.00 to $17.00 in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. lifted their target price on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th.

EnLink Midstream Price Performance

NYSE:ENLC opened at $11.90 on Thursday. EnLink Midstream has a one year low of $11.44 and a one year high of $14.38. The stock has a market cap of $5.37 billion, a PE ratio of 34.00 and a beta of 2.43. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average price of $13.42 and a 200 day moving average price of $13.11.

EnLink Midstream (NYSE:ENLC) last issued its 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). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that EnLink Midstream will post 0.61 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

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 given a dividend of $0.1325 per share. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Friday, August 2nd. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

Hedge Funds Weigh In On EnLink Midstream

Several institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in shares of EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 853 shares in the last quarter. First Dallas Securities Inc. lifted its holdings in EnLink Midstream by 0.6% during the 2nd quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock worth $2,182,000 after buying an additional 960 shares in the last quarter. Callahan Advisors LLC boosted its position in EnLink Midstream by 8.7% in the 2nd quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after buying an additional 1,000 shares during the period. Bank of New York Mellon Corp grew its stake in shares of EnLink Midstream by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after acquiring an additional 1,151 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of EnLink Midstream by 24.2% during the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after acquiring an additional 1,343 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

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.