EnLink Midstream (NYSE:ENLC) Shares Gap Up to $4.32


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EnLink Midstream, LLC (NYSE:ENLC)’s share price gapped up prior to trading on Friday . The stock had previously closed at $4.32, but opened at $4.48. EnLink Midstream shares last traded at $4.63, with a volume of 23,906 shares traded.

ENLC has been the topic of several research analyst reports. UBS Group upgraded shares of EnLink Midstream from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.50 to $6.00 in a research report on Thursday. Morgan Stanley upped their price objective on shares of EnLink Midstream from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Monday, March 29th. Zacks Investment Research cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Wednesday, February 3rd. JPMorgan Chase & Co. upgraded shares of EnLink Midstream from an “underweight” rating to a “neutral” rating in a research report on Tuesday, February 16th. Finally, Mizuho upped their price objective on shares of EnLink Midstream from $3.50 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. EnLink Midstream currently has an average rating of “Hold” and a consensus price target of $4.13.

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.36. The business’s 50-day simple moving average is $4.54 and its 200 day simple moving average is $3.88. The firm has a market capitalization of $2.27 billion, a P/E ratio of -1.89 and a beta of 3.62.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Monday, February 15th. The pipeline company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.33). EnLink Midstream had a negative net margin of 30.33% and a positive return on equity of 3.18%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Sell-side analysts predict that EnLink Midstream, LLC will post 0.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Friday, April 30th will be issued a $0.0938 dividend. This represents a $0.38 annualized dividend and a dividend yield of 8.08%. The ex-dividend date of this dividend is Thursday, April 29th. EnLink Midstream’s dividend payout ratio is 271.43%.

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC grew its holdings in shares of EnLink Midstream by 6.8% in the fourth quarter. LPL Financial LLC now owns 38,761 shares of the pipeline company’s stock worth $144,000 after purchasing an additional 2,453 shares during the last quarter. Financial Advisory Corp UT ADV grew its holdings in shares of EnLink Midstream by 14.7% in the fourth quarter. Financial Advisory Corp UT ADV now owns 27,304 shares of the pipeline company’s stock worth $101,000 after purchasing an additional 3,491 shares during the last quarter. Northern Trust Corp grew its holdings in shares of EnLink Midstream by 9.5% in the fourth quarter. Northern Trust Corp now owns 108,611 shares of the pipeline company’s stock worth $403,000 after purchasing an additional 9,428 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of EnLink Midstream by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 294,234 shares of the pipeline company’s stock worth $1,092,000 after purchasing an additional 10,067 shares during the last quarter. Finally, Keybank National Association OH grew its holdings in shares of EnLink Midstream by 23.0% in the fourth quarter. Keybank National Association OH now owns 56,589 shares of the pipeline company’s stock worth $210,000 after purchasing an additional 10,564 shares during the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

EnLink Midstream Company Profile (NYSE:ENLC)

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

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