EnLink Midstream (NYSE:ENLC) Sets New 52-Week High – Here’s What Happened

EnLink Midstream, LLC (NYSE:ENLC)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $14.84 and last traded at $14.74, with a volume of 49838 shares. The stock had previously closed at $14.73.

Analyst Ratings Changes

Several brokerages have issued reports on ENLC. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Friday, August 30th. Capital One Financial reiterated an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a report on Tuesday, September 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, August 29th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.44.

EnLink Midstream Trading Down 0.1 %

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 market capitalization of $6.79 billion, a price-to-earnings ratio of 49.10 and a beta of 2.40. The company has a fifty day moving average price of $14.13 and a two-hundred day moving average price of $13.66.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. As a group, research analysts forecast that EnLink Midstream, LLC will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is 176.67%.

Insider Transactions 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 SEC, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates lifted its holdings in EnLink Midstream by 12.0% during the 3rd quarter. Raymond James & Associates now owns 176,044 shares of the pipeline company’s stock worth $2,554,000 after buying an additional 18,805 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of EnLink Midstream by 21.7% during the third quarter. Exchange Traded Concepts LLC now owns 529,060 shares of the pipeline company’s stock worth $7,677,000 after acquiring an additional 94,311 shares during the period. SL Advisors LLC raised its stake in shares of EnLink Midstream by 3.0% in the third quarter. SL Advisors LLC now owns 67,260 shares of the pipeline company’s stock valued at $976,000 after acquiring an additional 1,985 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in EnLink Midstream by 1.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 371,300 shares of the pipeline company’s stock valued at $5,109,000 after purchasing an additional 3,800 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in EnLink Midstream during the 2nd quarter worth $56,000. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

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.