Raymond James Raises EnLink Midstream (NYSE:ENLC) Price Target to $11.00

EnLink Midstream (NYSE:ENLCGet Rating) had its price objective boosted by Raymond James from $10.00 to $11.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the pipeline company’s stock.

A number of other analysts have also issued reports on the company. StockNews.com lowered EnLink Midstream from a buy rating to a hold rating in a research note on Tuesday. Morgan Stanley raised EnLink Midstream from an underweight rating to an equal weight rating and lifted their price target for the stock from $7.00 to $9.00 in a research note on Friday, January 7th. Credit Suisse Group lifted their price target on EnLink Midstream from $6.50 to $9.00 and gave the stock an underperform rating in a research note on Tuesday. Zacks Investment Research lowered EnLink Midstream from a buy rating to a hold rating in a research note on Tuesday. Finally, Mizuho lifted their price target on EnLink Midstream from $8.00 to $9.00 and gave the stock a neutral rating in a research note on Thursday, February 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $8.44.

EnLink Midstream stock opened at $10.05 on Wednesday. The stock has a market capitalization of $4.86 billion, a PE ratio of 251.31 and a beta of 2.99. EnLink Midstream has a 12 month low of $4.36 and a 12 month high of $10.95. The business has a 50 day simple moving average of $9.37 and a 200-day simple moving average of $8.11. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.02 and a quick ratio of 1.02.

EnLink Midstream (NYSE:ENLCGet Rating) last posted its quarterly earnings data on Tuesday, February 15th. The pipeline company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $1.88 billion. EnLink Midstream had a return on equity of 0.73% and a net margin of 0.34%. During the same period in the previous year, the business earned $0.03 earnings per share. On average, equities research analysts anticipate that EnLink Midstream will post 0.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be paid a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Thursday, April 28th. EnLink Midstream’s dividend payout ratio (DPR) is currently 1,125.28%.

In other news, Director Kyle D. Vann sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $8.26, for a total value of $82,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.84% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Miller Howard Investments Inc. NY lifted its stake in shares of EnLink Midstream by 29.3% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,584,755 shares of the pipeline company’s stock valued at $24,943,000 after purchasing an additional 586,246 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of EnLink Midstream by 10.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,737 shares of the pipeline company’s stock valued at $383,000 after buying an additional 3,620 shares during the period. Virginia Retirement Systems ET AL raised its holdings in shares of EnLink Midstream by 30.8% in the 1st quarter. Virginia Retirement Systems ET AL now owns 93,000 shares of the pipeline company’s stock valued at $897,000 after buying an additional 21,900 shares during the period. Fractal Investments LLC raised its holdings in shares of EnLink Midstream by 98.7% in the 1st quarter. Fractal Investments LLC now owns 2,026,354 shares of the pipeline company’s stock valued at $19,554,000 after buying an additional 1,006,749 shares during the period. Finally, Eagle Global Advisors LLC raised its holdings in shares of EnLink Midstream by 5.6% in the 1st quarter. Eagle Global Advisors LLC now owns 2,410,852 shares of the pipeline company’s stock valued at $23,265,000 after buying an additional 127,186 shares during the period. 39.65% of the stock is currently owned by institutional investors and hedge funds.

About EnLink Midstream (Get Rating)

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.

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