StockNews.com Begins Coverage on EnLink Midstream (NYSE:ENLC)

Stock analysts at StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a report released on Saturday. The brokerage set a “hold” rating on the pipeline company’s stock.

ENLC has been the subject of several other reports. Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research report on Monday, September 16th. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, August 16th. Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $16.00 to $15.00 in a report on Friday, August 30th. Capital One Financial reiterated an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. Finally, US Capital Advisors cut EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Down 0.5 %

Shares of NYSE:ENLC opened at $14.62 on Friday. The firm has a market cap of $6.68 billion, a P/E ratio of 69.62 and a beta of 2.44. EnLink Midstream has a 52-week low of $11.53 and a 52-week high of $16.40. The business’s 50 day simple moving average is $15.11 and its two-hundred day simple moving average is $14.14. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, research analysts forecast that EnLink Midstream will post 0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. ORG Partners LLC bought a new stake in EnLink Midstream in the 2nd quarter valued at about $28,000. Newbridge Financial Services Group Inc. purchased a new position in shares of EnLink Midstream in the second quarter worth about $56,000. Wilmington Savings Fund Society FSB purchased a new position in shares of EnLink Midstream in the third quarter worth about $98,000. First Horizon Advisors Inc. raised its position in shares of EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 853 shares during the period. Finally, Icon Wealth Advisors LLC purchased a new stake in shares of EnLink Midstream during the 3rd quarter valued at approximately $107,000. Hedge funds and other institutional investors own 45.87% of the company’s stock.

About EnLink Midstream

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