Fintel reports that on October 3, 2023, Pickering Energy Partners initiated coverage of Enlink Midstream LLC - Unit (NYSE:ENLC) with a Outperform recommendation.
Analyst Price Forecast Suggests 17.69% Upside
As of August 31, 2023, the average one-year price target for Enlink Midstream LLC - Unit is 14.08. The forecasts range from a low of 12.12 to a high of $17.85. The average price target represents an increase of 17.69% from its latest reported closing price of 11.96.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Enlink Midstream LLC - Unit is 11,207MM, an increase of 41.02%. The projected annual non-GAAP EPS is 0.72.
Enlink Midstream LLC - Unit Declares $0.12 Dividend
On July 18, 2023 the company declared a regular quarterly dividend of $0.12 per share ($0.50 annualized). Shareholders of record as of July 28, 2023 received the payment on August 11, 2023. Previously, the company paid $0.12 per share.
At the current share price of $11.96 / share, the stock's dividend yield is 4.18%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.98%, the lowest has been 3.47%, and the highest has been 70.75%. The standard deviation of yields is 8.10 (n=236).
The current dividend yield is 0.72 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.65. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 298 funds or institutions reporting positions in Enlink Midstream LLC - Unit. This is a decrease of 6 owner(s) or 1.97% in the last quarter. Average portfolio weight of all funds dedicated to ENLC is 0.53%, a decrease of 0.94%. Total shares owned by institutions decreased in the last three months by 0.83% to 322,998K shares. 
The put/call ratio of ENLC is 0.07, indicating a bullish outlook.
What are Other Shareholders Doing?
AMLP - ALERIAN MLP ETF holds 46,316K shares representing 10.04% ownership of the company. In it's prior filing, the firm reported owning 47,040K shares, representing a decrease of 1.56%. The firm decreased its portfolio allocation in ENLC by 10.47% over the last quarter.
Alps Advisors holds 38,189K shares representing 8.27% ownership of the company. In it's prior filing, the firm reported owning 47,894K shares, representing a decrease of 25.41%. The firm decreased its portfolio allocation in ENLC by 22.71% over the last quarter.
Invesco holds 27,709K shares representing 6.00% ownership of the company. In it's prior filing, the firm reported owning 25,780K shares, representing an increase of 6.96%. The firm increased its portfolio allocation in ENLC by 967.11% over the last quarter.
MLPRX - Invesco Oppenheimer SteelPath MLP Income Fund Class C holds 17,583K shares representing 3.81% ownership of the company. In it's prior filing, the firm reported owning 17,383K shares, representing an increase of 1.14%. The firm decreased its portfolio allocation in ENLC by 9.04% over the last quarter.
Goldman Sachs Group holds 17,018K shares representing 3.69% ownership of the company. In it's prior filing, the firm reported owning 14,829K shares, representing an increase of 12.86%. The firm increased its portfolio allocation in ENLC by 264.78% over the last quarter.
Enlink Midstream Background Information
(This description is provided by the company.)
EnLink Midstream reliably operates a differentiated midstream platform that is built for long-term, sustainable value creation. EnLink's best-in-class services span the midstream value chain, providing natural gas, crude oil, condensate, and NGL capabilities. Its purposely built, integrated asset platforms are in premier production basins and core demand centers, including the Permian Basin, Oklahoma, North Texas, and the Gulf Coast. EnLink's strong financial foundation and commitment to execution excellence drive competitive returns and value for its employees, customers, and investors.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
