Citigroup Begins Coverage on EnLink Midstream (ENLC)

Citigroup assumed coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report report published on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $13.00 price target on the pipeline company’s stock.

A number of other research firms have also recently issued reports on ENLC. Credit Suisse Group upgraded EnLink Midstream from a neutral rating to an outperform rating and set a $19.00 target price on the stock in a research note on Tuesday, November 13th. Zacks Investment Research raised EnLink Midstream from a sell rating to a hold rating in a report on Wednesday, February 20th. Stifel Nicolaus assumed coverage on EnLink Midstream in a report on Friday, February 8th. They set a buy rating and a $13.00 price target on the stock. Mitsubishi UFJ Financial Group raised EnLink Midstream from a neutral rating to an overweight rating in a report on Wednesday, February 20th. Finally, Jefferies Financial Group raised EnLink Midstream from a hold rating to a buy rating in a report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. EnLink Midstream has an average rating of Hold and a consensus target price of $16.57.

ENLC stock opened at $11.68 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -166.86, a P/E/G ratio of 8.91 and a beta of 2.27. EnLink Midstream has a 1 year low of $8.90 and a 1 year high of $18.40.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, February 19th. The pipeline company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.51). The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.12 billion. EnLink Midstream had a negative net margin of 0.17% and a negative return on equity of 0.25%. As a group, analysts predict that EnLink Midstream will post 0.32 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Thursday, January 24th were issued a dividend of $0.275 per share. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 9.42%. The ex-dividend date of this dividend was Wednesday, January 23rd. EnLink Midstream’s payout ratio is presently -1,571.43%.

In other news, major shareholder Goldman Sachs Group Inc bought 24,791 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were purchased at an average cost of $10.86 per share, with a total value of $269,230.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.45% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in ENLC. Tortoise Capital Advisors L.L.C. grew its holdings in EnLink Midstream by 15.7% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 5,908,479 shares of the pipeline company’s stock worth $56,071,000 after acquiring an additional 801,913 shares during the period. Citigroup Inc. grew its holdings in EnLink Midstream by 37.7% during the fourth quarter. Citigroup Inc. now owns 2,392,627 shares of the pipeline company’s stock worth $22,705,000 after acquiring an additional 655,275 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in EnLink Midstream during the third quarter worth about $10,750,000. Kayne Anderson Capital Advisors LP grew its holdings in EnLink Midstream by 229.9% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 906,700 shares of the pipeline company’s stock worth $8,596,000 after acquiring an additional 631,900 shares during the period. Finally, RR Advisors LLC boosted its position in shares of EnLink Midstream by 19.2% in the 3rd quarter. RR Advisors LLC now owns 3,361,000 shares of the pipeline company’s stock valued at $55,303,000 after purchasing an additional 541,000 shares during the period. 33.57% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate 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 gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.

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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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