EnLink Midstream (ENLC) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a research note issued to investors on Friday, MarketBeat.com reports. The firm issued a buy rating and a $13.00 price target on the pipeline company’s stock.

Several other brokerages have also weighed in on ENLC. Credit Suisse Group upgraded shares of EnLink Midstream from a neutral rating to an outperform rating and set a $19.00 target price on the stock in a research report on Tuesday, November 13th. Tudor Pickering initiated coverage on shares of EnLink Midstream in a research report on Monday, November 5th. They set a hold rating on the stock. Mitsubishi UFJ Financial Group upgraded shares of EnLink Midstream from a neutral rating to an overweight rating and lowered their target price for the stock from $20.00 to $18.00 in a research report on Thursday, November 8th. Zacks Investment Research lowered shares of EnLink Midstream from a buy rating to a hold rating in a research report on Monday, December 24th. Finally, Jefferies Financial Group upgraded shares of EnLink Midstream from a hold rating to a buy rating in a research report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. EnLink Midstream has a consensus rating of Hold and an average price target of $16.86.

Shares of ENLC opened at $10.36 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71. EnLink Midstream has a twelve month low of $8.90 and a twelve month high of $18.40. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 41.44, a P/E/G ratio of 5.51 and a beta of 2.30.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 24th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 10.62%. The ex-dividend date is Wednesday, January 23rd. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.27. EnLink Midstream’s dividend payout ratio is -2,200.00%.

In other EnLink Midstream news, major shareholder Goldman Sachs Group Inc purchased 24,791 shares of EnLink Midstream stock in a transaction on Friday, February 1st. The shares were bought at an average price of $10.86 per share, with a total value of $269,230.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.45% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of EnLink Midstream by 2.9% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 5,106,566 shares of the pipeline company’s stock valued at $84,003,000 after purchasing an additional 145,990 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of EnLink Midstream by 8.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,919,211 shares of the pipeline company’s stock valued at $64,469,000 after buying an additional 305,441 shares during the period. RR Advisors LLC lifted its stake in shares of EnLink Midstream by 19.2% during the third quarter. RR Advisors LLC now owns 3,361,000 shares of the pipeline company’s stock valued at $55,303,000 after buying an additional 541,000 shares during the period. Eagle Global Advisors LLC lifted its stake in shares of EnLink Midstream by 10.0% during the fourth quarter. Eagle Global Advisors LLC now owns 1,425,211 shares of the pipeline company’s stock valued at $13,525,000 after buying an additional 129,709 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of EnLink Midstream during the third quarter valued at approximately $10,750,000. 31.94% of the stock is currently owned by institutional investors.

EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.

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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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