EnLink Midstream Partners, LP (ENLK) Declares $0.39 Quarterly Dividend

EnLink Midstream Partners, LP (NYSE:ENLK) announced a quarterly dividend on Thursday, July 20th, NASDAQ reports. Shareholders of record on Tuesday, August 1st will be given a dividend of 0.39 per share by the oil and gas producer on Friday, August 11th. This represents a $1.56 dividend on an annualized basis and a yield of 9.58%. The ex-dividend date is Friday, July 28th.

EnLink Midstream Partners, has a dividend payout ratio of 1,200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect EnLink Midstream Partners, to earn $0.47 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 331.9%.

EnLink Midstream Partners, (NYSE ENLK) traded down 2.34% during mid-day trading on Friday, reaching $16.29. 708,150 shares of the company’s stock were exchanged. EnLink Midstream Partners, has a 52-week low of $15.07 and a 52-week high of $19.89. The company’s market cap is $5.64 billion. The stock has a 50-day moving average price of $16.63 and a 200 day moving average price of $17.70.

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Several brokerages have recently weighed in on ENLK. BidaskClub cut shares of EnLink Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. ValuEngine cut shares of EnLink Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Thursday, June 8th. Zacks Investment Research cut shares of EnLink Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Guggenheim assumed coverage on shares of EnLink Midstream Partners, in a research note on Tuesday, April 18th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Morgan Stanley cut shares of EnLink Midstream Partners, from an “overweight” rating to an “equal” rating and decreased their target price for the company from $20.00 to $19.00 in a research note on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. EnLink Midstream Partners, currently has a consensus rating of “Hold” and a consensus price target of $19.20.

About EnLink Midstream Partners,

EnLink Midstream Partners, LP is a midstream company. The Company’s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP (the Operating Partnership) and the subsidiaries of the Operating Partnership. The Company operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate.