EnLink Midstream (NYSE:ENLC) Rating Lowered to Hold at US Capital Advisors

EnLink Midstream (NYSE:ENLC) was downgraded by analysts at US Capital Advisors from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.50 EPS and Q4 2025 earnings at $0.28 EPS.

Other analysts also recently issued reports about the company. UBS Group downgraded EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Monday, September 30th. Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. 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 report on Monday, September 16th. Finally, Mizuho reiterated a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, EnLink Midstream presently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Down 0.4 %

NYSE ENLC opened at $15.85 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The company has a fifty day moving average of $14.96 and a two-hundred day moving average of $13.99. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 75.48 and a beta of 2.41. EnLink Midstream has a 52 week low of $11.53 and a 52 week high of $16.40.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, analysts predict that EnLink Midstream will post 0.55 earnings per share for the current year.

Insider Transactions at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the 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. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENLC. ORG Partners LLC purchased a new stake in EnLink Midstream in the 2nd quarter valued at $28,000. Newbridge Financial Services Group Inc. purchased a new position in shares of EnLink Midstream during the 2nd quarter worth $56,000. Wilmington Savings Fund Society FSB purchased a new position in shares of EnLink Midstream during the 3rd quarter worth $98,000. First Horizon Advisors Inc. grew its holdings in shares of EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 853 shares during the period. Finally, Icon Wealth Advisors LLC purchased a new position in shares of EnLink Midstream during the 3rd quarter worth $107,000. 45.87% of the stock is owned by institutional investors and hedge funds.

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.