EnLink Midstream (NYSE:ENLC) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the pipeline company’s stock.

A number of other brokerages have also recently issued reports on ENLC. Capital One Financial reaffirmed an “equal weight” rating and issued a $16.00 price objective on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Mizuho reaffirmed a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, October 31st. Wells Fargo & Company downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $16.00 to $15.00 in a report on Friday, August 30th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, November 21st. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Trading Up 2.2 %

ENLC stock opened at $14.09 on Friday. The business has a fifty day moving average of $15.05 and a 200-day moving average of $14.21. The company has a market cap of $6.44 billion, a P/E ratio of 67.10 and a beta of 2.44. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, equities research analysts expect that EnLink Midstream will post 0.51 EPS for the current year.

Insider Buying and Selling at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. bought a new stake in EnLink Midstream during the second quarter worth $56,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of EnLink Midstream in the third quarter valued at approximately $98,000. Icon Wealth Advisors LLC bought a new position in shares of EnLink Midstream during the 3rd quarter worth approximately $107,000. Sunbelt Securities Inc. increased its holdings in shares of EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after acquiring an additional 1,511 shares during the last quarter. Finally, Inscription Capital LLC bought a new stake in EnLink Midstream in the 3rd quarter valued at $154,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

EnLink Midstream Company Profile

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.