EnLink Midstream Partners, LP (NYSE:ENLK) announced a quarterly dividend on Thursday, April 19th, Zacks reports. Stockholders of record on Monday, April 30th will be paid a dividend of 0.39 per share by the oil and gas producer on Monday, May 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.13%. The ex-dividend date is Friday, April 27th.
EnLink Midstream Partners has increased its dividend by an average of 12.5% annually over the last three years. EnLink Midstream Partners has a dividend payout ratio of 7,800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect EnLink Midstream Partners to earn $0.31 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 503.2%.
Shares of NYSE ENLK opened at $14.01 on Friday. EnLink Midstream Partners has a twelve month low of $12.75 and a twelve month high of $18.97. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4,994.83, a PE ratio of 475.67 and a beta of 2.13.
A number of brokerages recently commented on ENLK. Zacks Investment Research downgraded EnLink Midstream Partners from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Barclays lowered their price objective on EnLink Midstream Partners from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday. Robert W. Baird set a $20.00 price objective on EnLink Midstream Partners and gave the stock a “buy” rating in a research note on Monday, February 12th. ValuEngine downgraded EnLink Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Bank of America began coverage on EnLink Midstream Partners in a research note on Tuesday, January 9th. They set a “buy” rating and a $18.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.62.
An institutional investor recently raised its position in EnLink Midstream Partners stock. The Manufacturers Life Insurance Company lifted its holdings in EnLink Midstream Partners, LP (NYSE:ENLK) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,147 shares of the oil and gas producer’s stock after purchasing an additional 816 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in EnLink Midstream Partners were worth $189,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 41.23% of the company’s stock.
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EnLink Midstream Partners Company Profile
EnLink Midstream Partners LP provides integrated midstream services across natural gas, crude oil, condensate, and NGL commodities. It focuses on gathering, transmission, processing, fractionation, storage, condensate stabilization, brine services and marketing, to producers of natural gas, NGLs, crude oil and condensate.
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