EnLink Midstream (NYSE:ENLC) Given New $16.00 Price Target at Citigroup

EnLink Midstream (NYSE:ENLC) had its price objective upped by Citigroup from $13.00 to $16.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage currently has a buy rating on the pipeline company’s stock.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of EnLink Midstream from a buy rating to a hold rating in a research note on Thursday, April 11th. Capital One Financial assumed coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They issued an overweight rating and a $15.00 price target for the company. UBS Group upped their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a buy rating in a research report on Thursday, January 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of EnLink Midstream from $15.00 to $14.00 and set a neutral rating for the company in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $14.63.

EnLink Midstream Stock Up 0.4 %

ENLC stock opened at $13.48 on Tuesday. EnLink Midstream has a 12 month low of $8.45 and a 12 month high of $14.18. The firm has a market cap of $6.11 billion, a PE ratio of 30.64 and a beta of 2.39. The firm has a 50 day simple moving average of $12.94 and a 200 day simple moving average of $12.60. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Equities research analysts forecast that EnLink Midstream will post 0.6 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be given a $0.132 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a yield of 3.92%. EnLink Midstream’s payout ratio is 120.46%.

Insiders Place Their Bets

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the sale, the chief financial officer now owns 534,000 shares in the company, valued at approximately $6,450,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the transaction, the chief accounting officer now owns 58,410 shares in the company, valued at approximately $719,611.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now owns 534,000 shares in the company, valued at approximately $6,450,720. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Alps Advisors Inc. increased its stake in shares of EnLink Midstream by 11.0% during the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after purchasing an additional 4,200,733 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in EnLink Midstream in the 3rd quarter valued at $3,246,000. UBS Group AG grew its stake in EnLink Midstream by 22.9% in the 3rd quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock valued at $18,848,000 after buying an additional 287,400 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in EnLink Midstream in the 3rd quarter valued at $1,337,000. Finally, UMB Bank n.a. grew its stake in EnLink Midstream by 198.8% in the 4th quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock valued at $72,000 after buying an additional 3,965 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.