Zacks Investment Research cut shares of EnLink Midstream, LLC (NYSE:ENLC) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas. “

A number of other research firms have also recently issued reports on ENLC. UBS Group AG (USA) upgraded EnLink Midstream from a neutral rating to a buy rating and set a $19.00 target price on the stock in a research note on Tuesday, October 24th. Citigroup Inc upgraded EnLink Midstream to a neutral rating and set a $19.00 target price on the stock in a research note on Wednesday, August 2nd. ValuEngine cut shares of EnLink Midstream from a hold rating to a sell rating in a research note on Friday, September 1st. BidaskClub upgraded shares of EnLink Midstream from a strong sell rating to a sell rating in a research note on Friday, August 25th. Finally, Royal Bank Of Canada restated a hold rating and set a $21.00 price objective on shares of EnLink Midstream in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. EnLink Midstream currently has a consensus rating of Hold and a consensus price target of $18.83.

EnLink Midstream (NYSE:ENLC) opened at $15.60 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.78 billion, a P/E ratio of 513.33 and a beta of 2.59.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. equities research analysts anticipate that EnLink Midstream will post 0.38 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Tuesday, October 31st. EnLink Midstream’s dividend payout ratio is currently 3,401.13%.

A number of large investors have recently added to or reduced their stakes in the stock. Global X MANAGEMENT CO LLC grew its holdings in EnLink Midstream by 29.6% during the third quarter. Global X MANAGEMENT CO LLC now owns 575,324 shares of the pipeline company’s stock worth $9,924,000 after acquiring an additional 131,283 shares during the period. Principal Financial Group Inc. grew its holdings in EnLink Midstream by 3.8% during the third quarter. Principal Financial Group Inc. now owns 2,182,575 shares of the pipeline company’s stock worth $37,650,000 after acquiring an additional 80,717 shares during the period. Keybank National Association OH grew its holdings in EnLink Midstream by 72.0% during the third quarter. Keybank National Association OH now owns 45,470 shares of the pipeline company’s stock worth $784,000 after acquiring an additional 19,030 shares during the period. Linscomb & Williams Inc. acquired a new position in EnLink Midstream during the third quarter worth about $150,000. Finally, Nationwide Fund Advisors grew its holdings in EnLink Midstream by 397.6% during the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 9,599 shares during the period. 34.48% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.

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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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