EnLink Midstream (NYSE:ENLC) Earns Hold Rating from Analysts at StockNews.com

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

A number of other analysts have also issued reports on the stock. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, November 21st. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research note on Friday, August 30th. Finally, UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Monday, September 30th. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, EnLink Midstream presently has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Up 2.2 %

Shares of NYSE ENLC opened at $14.09 on Friday. The firm’s 50 day moving average price is $15.05 and its 200 day moving average price is $14.21. 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 firm 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 1 year low of $11.53 and a 1 year high of $16.40.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) EPS 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 net margin of 1.96% and a return on equity of 9.51%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. As a group, sell-side analysts anticipate that EnLink Midstream will post 0.51 earnings per share for the current year.

Insider Activity

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Newbridge Financial Services Group Inc. bought a new position in EnLink Midstream in the 2nd quarter valued at $56,000. Wilmington Savings Fund Society FSB acquired a new position in EnLink Midstream during the 3rd quarter worth about $98,000. Icon Wealth Advisors LLC bought a new stake in EnLink Midstream during the 3rd quarter worth about $107,000. Sunbelt Securities Inc. grew its holdings in 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 acquired a new stake in EnLink Midstream in the 3rd quarter valued at about $154,000. Institutional investors 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.