EnLink Midstream Partners (ENLK) Price Target Lowered to $17.00 at Royal Bank of Canada

EnLink Midstream Partners (NYSE:ENLK) had its price target reduced by Royal Bank of Canada from $19.00 to $17.00 in a research report sent to investors on Thursday. Royal Bank of Canada currently has a sector perform rating on the oil and gas producer’s stock.

A number of other brokerages have also issued reports on ENLK. ValuEngine raised shares of EnLink Midstream Partners from a hold rating to a buy rating in a report on Friday, September 7th. Credit Suisse Group assumed coverage on shares of EnLink Midstream Partners in a report on Thursday, October 11th. They issued an underperform rating and a $17.00 price target on the stock. Zacks Investment Research raised shares of EnLink Midstream Partners from a hold rating to a buy rating and set a $20.00 price target on the stock in a report on Wednesday, September 26th. Citigroup lowered shares of EnLink Midstream Partners from a buy rating to a neutral rating and raised their price target for the stock from $18.00 to $19.00 in a report on Wednesday, October 17th. They noted that the move was a valuation call. Finally, Barclays raised their price target on shares of EnLink Midstream Partners from $16.00 to $19.00 and gave the stock a hold rating in a report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. EnLink Midstream Partners presently has an average rating of Hold and an average price target of $17.36.

NYSE:ENLK traded down $0.46 during trading hours on Thursday, reaching $13.82. The company’s stock had a trading volume of 1,277,536 shares, compared to its average volume of 1,034,160. The stock has a market cap of $5.13 billion, a PE ratio of 460.67 and a beta of 2.13. EnLink Midstream Partners has a 1 year low of $12.75 and a 1 year high of $19.45. The company has a quick ratio of 0.64, a current ratio of 0.72 and a debt-to-equity ratio of 1.05.

EnLink Midstream Partners (NYSE:ENLK) last issued its earnings results on Tuesday, November 6th. The oil and gas producer reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.06). The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $1.86 billion. EnLink Midstream Partners had a return on equity of 8.21% and a net margin of 3.76%. EnLink Midstream Partners’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) EPS. Sell-side analysts anticipate that EnLink Midstream Partners will post 0.45 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Monday, October 29th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.29%. The ex-dividend date of this dividend is Friday, October 26th. EnLink Midstream Partners’s payout ratio is 5,200.00%.

In related news, major shareholder Goldman Sachs Group Inc bought 91,538 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average price of $18.52 per share, with a total value of $1,695,283.76. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.17% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ENLK. Tortoise Capital Advisors L.L.C. boosted its stake in shares of EnLink Midstream Partners by 75.6% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,212,687 shares of the oil and gas producer’s stock valued at $264,924,000 after purchasing an additional 6,120,721 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of EnLink Midstream Partners during the 2nd quarter valued at about $48,852,000. Bank of Montreal Can bought a new stake in shares of EnLink Midstream Partners during the 2nd quarter valued at about $31,271,000. Hennessy Advisors Inc. bought a new stake in shares of EnLink Midstream Partners during the 3rd quarter valued at about $28,277,000. Finally, Eagle Global Advisors LLC boosted its stake in shares of EnLink Midstream Partners by 50.4% during the 2nd quarter. Eagle Global Advisors LLC now owns 3,917,499 shares of the oil and gas producer’s stock valued at $60,839,000 after purchasing an additional 1,312,978 shares in the last quarter. 41.67% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Partners Company Profile

EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.

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Analyst Recommendations for EnLink Midstream Partners (NYSE:ENLK)

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