Zacks Investment Research upgraded shares of EnLink Midstream (NYSE:ENLC) from a sell rating to a hold rating in a research note published on Wednesday, March 7th.
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. “
Other equities analysts have also issued reports about the company. Robert W. Baird set a $16.00 price objective on EnLink Midstream and gave the company a hold rating in a research note on Tuesday, February 27th. Bank of America reduced their price target on EnLink Midstream from $18.00 to $17.00 and set a neutral rating on the stock in a research report on Thursday, February 22nd. ValuEngine lowered EnLink Midstream from a hold rating to a sell rating in a research report on Friday, February 2nd. Seaport Global Securities set a $17.00 price target on EnLink Midstream and gave the stock a hold rating in a research report on Friday, February 9th. Finally, B. Riley started coverage on EnLink Midstream in a research report on Friday, January 26th. They set a neutral rating and a $18.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. EnLink Midstream has a consensus rating of Hold and a consensus target price of $18.07.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.259 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. This represents a $1.04 annualized dividend and a yield of 6.82%. EnLink Midstream’s payout ratio is currently 10,400.00%.
A number of hedge funds have recently bought and sold shares of ENLC. Northern Trust Corp increased its holdings in EnLink Midstream by 0.4% during the 2nd quarter. Northern Trust Corp now owns 102,348 shares of the pipeline company’s stock worth $1,802,000 after purchasing an additional 386 shares during the last quarter. Vanguard Group Inc. increased its holdings in EnLink Midstream by 19.9% during the 2nd quarter. Vanguard Group Inc. now owns 239,377 shares of the pipeline company’s stock worth $4,213,000 after purchasing an additional 39,809 shares during the last quarter. State Street Corp increased its holdings in EnLink Midstream by 7.0% during the 2nd quarter. State Street Corp now owns 104,852 shares of the pipeline company’s stock worth $1,846,000 after purchasing an additional 6,851 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in EnLink Midstream by 11.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock worth $100,000 after purchasing an additional 599 shares during the last quarter. Finally, Nationwide Fund Advisors increased its holdings in EnLink Midstream by 397.6% during the 3rd quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 9,599 shares during the last quarter. Institutional investors own 33.66% of the company’s stock.
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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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