StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC – Free Report) in a report published on Thursday morning. The firm issued a hold rating on the pipeline company’s stock.

Other research analysts have also issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of EnLink Midstream from $14.50 to $14.00 in a research note on Thursday, May 4th. Wells Fargo & Company boosted their price objective on shares of EnLink Midstream from $11.00 to $12.00 in a report on Friday, August 4th. Morgan Stanley cut their price objective on shares of EnLink Midstream from $18.00 to $17.00 in a report on Tuesday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of EnLink Midstream from $13.00 to $12.00 in a report on Wednesday, June 28th. Finally, UBS Group started coverage on shares of EnLink Midstream in a report on Monday, June 26th. They set a buy rating and a $14.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $13.88.

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EnLink Midstream Stock Performance

EnLink Midstream Dividend Announcement

Shares of EnLink Midstream stock traded up $0.03 during trading on Thursday, hitting $11.88. 299,027 shares of the stock were exchanged, compared to its average volume of 2,413,609. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 16.07 and a beta of 2.53. The company has a fifty day moving average price of $11.06 and a 200-day moving average price of $10.79. EnLink Midstream has a 1-year low of $8.04 and a 1-year high of $13.58. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.67.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, July 28th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.21%. The ex-dividend date was Thursday, July 27th. EnLink Midstream’s dividend payout ratio (DPR) is currently 67.57%.

Insider Buying and Selling at EnLink Midstream

In other news, CAO Jan Philipp Rossbach sold 40,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $11.79, for a total transaction of $471,600.00. Following the completion of the sale, the chief accounting officer now directly owns 103,892 shares in the company, valued at $1,224,886.68. The transaction was disclosed in a filing with the SEC, which is available at this link. In other EnLink Midstream news, EVP Alaina K. Brooks sold 131,586 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $12.13, for a total value of $1,596,138.18. Following the completion of the sale, the executive vice president now directly owns 540,719 shares of the company’s stock, valued at approximately $6,558,921.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jan Philipp Rossbach sold 40,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $11.79, for a total transaction of $471,600.00. Following the completion of the sale, the chief accounting officer now directly owns 103,892 shares of the company’s stock, valued at $1,224,886.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,609 shares of company stock worth $2,488,014. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EnLink Midstream

A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of EnLink Midstream by 29.4% during the 1st quarter. Raymond James & Associates now owns 81,453 shares of the pipeline company’s stock valued at $786,000 after acquiring an additional 18,487 shares during the period. Cetera Advisor Networks LLC lifted its stake in shares of EnLink Midstream by 34.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 33,916 shares of the pipeline company’s stock valued at $327,000 after buying an additional 8,600 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of EnLink Midstream by 16.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 175,190 shares of the pipeline company’s stock valued at $1,797,000 after buying an additional 24,361 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of EnLink Midstream by 7.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,225,310 shares of the pipeline company’s stock valued at $108,324,000 after buying an additional 746,457 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of EnLink Midstream by 15.5% during the 1st quarter. Allianz Asset Management GmbH now owns 1,723,580 shares of the pipeline company’s stock valued at $16,633,000 after buying an additional 231,880 shares in the last quarter. 44.94% of the stock is owned by institutional investors.

EnLink Midstream Company Profile

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EnLink Midstream, LLC provides midstream energy services in the United States. It operates through five segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The company 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.

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