EnLink Midstream (NYSE:ENLC) Reaches New 52-Week High – Still a Buy?

by · The Markets Daily

EnLink Midstream, LLC (NYSE:ENLC – Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $14.87 and last traded at $14.84, with a volume of 1296853 shares trading hands. The stock had previously closed at $14.71.

Analyst Upgrades and Downgrades

ENLC has been the topic of a number of research analyst reports. Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Monday, September 30th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, August 16th. Finally, Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.44.

Check Out Our Latest Stock Analysis on ENLC

EnLink Midstream Price Performance

The company’s 50 day moving average price is $14.38 and its 200-day moving average price is $13.70. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 49.03 and a beta of 2.40. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65.

EnLink Midstream (NYSE:ENLC – Get Free Report) last announced its 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 firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the business earned $0.12 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts forecast that EnLink Midstream, LLC will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, November 1st. EnLink Midstream’s payout ratio is 176.67%.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

A number of institutional investors have recently added to or reduced their stakes in ENLC. Maryland State Retirement & Pension System lifted its stake in EnLink Midstream by 1.9% in the first quarter. Maryland State Retirement & Pension System now owns 202,971 shares of the pipeline company’s stock valued at $2,732,000 after acquiring an additional 3,842 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of EnLink Midstream in the first quarter valued at approximately $105,000. Clearbridge Investments LLC bought a new position in shares of EnLink Midstream in the first quarter valued at approximately $873,000. CANADA LIFE ASSURANCE Co raised its position in shares of EnLink Midstream by 4.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 184,007 shares of the pipeline company’s stock valued at $2,513,000 after purchasing an additional 8,218 shares during the period. Finally, Westwood Holdings Group Inc. increased its position in EnLink Midstream by 22.8% during 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. 45.87% of the stock is currently owned by institutional investors and hedge funds.

EnLink Midstream Company Profile

(Get Free Report)

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.

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