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

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

Several other analysts have also weighed in on the company. Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $16.00 to $15.00 in a report on Friday, August 30th. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Mizuho reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Friday, August 30th. Finally, Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a research report on Tuesday, September 3rd. 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Trading Down 0.5 %

NYSE:ENLC opened at $14.62 on Friday. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 69.62 and a beta of 2.44. EnLink Midstream has a one year low of $11.53 and a one year high of $16.40. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The business’s 50-day simple moving average is $15.11 and its 200 day simple moving average is $14.14.

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

Insiders Place Their Bets

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction that occurred 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 is available at this link. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Partners LLC acquired a new stake in EnLink Midstream during the second quarter worth approximately $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of EnLink Midstream during the 2nd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of EnLink Midstream during the 3rd quarter worth approximately $98,000. Icon Wealth Advisors LLC acquired a new stake in shares of EnLink Midstream during the 3rd quarter worth approximately $107,000. Finally, First Horizon Advisors Inc. increased its stake in shares of EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 853 shares in the last quarter. 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.