EnLink Midstream (NYSE:ENLC) Upgraded at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. They currently have $15.00 target price on the pipeline company’s stock.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted 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. StockNews.com upgraded shares of EnLink Midstream from a hold rating to a buy rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company upgraded shares of EnLink Midstream from an equal weight rating to an overweight rating and raised their price objective for the stock from $13.00 to $17.00 in a research report on Monday, July 8th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $15.29.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $13.33 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $13.39 and a two-hundred day moving average of $13.12. The stock has a market capitalization of $6.02 billion, a PE ratio of 38.09 and a beta of 2.43. EnLink Midstream has a fifty-two week low of $11.44 and a fifty-two week high of $14.38.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. EnLink Midstream’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. As a group, research analysts forecast that EnLink Midstream will post 0.61 earnings per share for the current fiscal year.

EnLink Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were issued a $0.1325 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.98%. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s payout ratio is 151.43%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in EnLink Midstream by 1.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock worth $194,126,000 after acquiring an additional 186,801 shares during the last quarter. Chickasaw Capital Management LLC raised its position in EnLink Midstream by 5.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after purchasing an additional 759,994 shares during the last quarter. Dimensional Fund Advisors LP raised its position in EnLink Midstream by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock valued at $93,884,000 after purchasing an additional 133,327 shares during the last quarter. Hennessy Advisors Inc. increased its stake in EnLink Midstream by 17.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 2,477,000 shares of the pipeline company’s stock valued at $34,084,000 after buying an additional 360,400 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in EnLink Midstream by 4.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock valued at $32,363,000 after buying an additional 106,467 shares during the period. Institutional investors and hedge funds own 45.87% of the company’s stock.

EnLink Midstream Company Profile

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.