EnLink Midstream (NYSE:ENLC) Trading Down 9.3%

EnLink Midstream, LLC (NYSE:ENLCGet Rating) shares traded down 9.3% during trading on Friday . The stock traded as low as $8.47 and last traded at $8.55. 39,724 shares were traded during trading, a decline of 99% from the average session volume of 2,677,578 shares. The stock had previously closed at $9.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ENLC shares. Mizuho upped their price target on EnLink Midstream from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, May 27th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Saturday, August 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, EnLink Midstream currently has a consensus rating of “Hold” and a consensus target price of $10.17.

EnLink Midstream Trading Down 8.6 %

The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 24.37 and a beta of 2.66. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50-day moving average price of $9.94 and a 200-day moving average price of $9.80.

EnLink Midstream (NYSE:ENLCGet Rating) last posted its earnings results on Wednesday, August 3rd. The pipeline company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.11. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $1.70 billion. EnLink Midstream had a return on equity of 5.98% and a net margin of 2.00%. As a group, research analysts forecast that EnLink Midstream, LLC will post 0.41 EPS for the current fiscal year.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date was Thursday, July 28th. EnLink Midstream’s dividend payout ratio (DPR) is 128.57%.

Insider Activity at EnLink Midstream

In other news, COO Benjamin D. Lamb sold 45,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $9.47, for a total value of $426,150.00. Following the completion of the sale, the chief operating officer now directly owns 741,173 shares of the company’s stock, valued at $7,018,908.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other EnLink Midstream news, COO Benjamin D. Lamb sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $9.47, for a total transaction of $426,150.00. Following the sale, the chief operating officer now directly owns 741,173 shares in the company, valued at approximately $7,018,908.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin D. Lamb sold 150,000 shares of EnLink Midstream stock in a transaction on Monday, August 8th. The stock was sold at an average price of $9.18, for a total value of $1,377,000.00. Following the transaction, the chief operating officer now directly owns 935,090 shares of the company’s stock, valued at $8,584,126.20. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC acquired a new stake in shares of EnLink Midstream during the 2nd quarter worth $30,000. CNB Bank acquired a new stake in EnLink Midstream during the second quarter worth about $43,000. First Horizon Advisors Inc. increased its stake in EnLink Midstream by 85.7% during the first quarter. First Horizon Advisors Inc. now owns 5,143 shares of the pipeline company’s stock worth $50,000 after acquiring an additional 2,374 shares during the last quarter. Rational Advisors LLC raised its holdings in shares of EnLink Midstream by 47.8% in the 1st quarter. Rational Advisors LLC now owns 5,452 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 1,762 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of EnLink Midstream in the 1st quarter valued at about $102,000. Institutional investors and hedge funds own 42.03% of the company’s stock.

EnLink Midstream Company Profile

(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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