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

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

A number of other equities analysts also recently commented on ENLC. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a report on Monday, September 16th. Capital One Financial restated an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research note on Monday, September 30th. Mizuho reissued a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Trading Down 0.3 %

Shares of NYSE:ENLC opened at $14.23 on Monday. 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 stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 67.76 and a beta of 2.44. EnLink Midstream has a 1-year low of $11.53 and a 1-year high of $16.40. The company has a 50 day moving average price of $15.02 and a 200 day moving average price of $14.26.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data 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 return on equity of 9.51% and a net margin of 1.96%. The company 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 firm posted $0.10 EPS. EnLink Midstream’s quarterly revenue was down 7.9% on a year-over-year basis. On average, research analysts anticipate that EnLink Midstream will post 0.51 EPS for the current fiscal year.

Insider Buying and Selling at EnLink Midstream

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 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 legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Dallas Securities Inc. boosted its holdings in shares of EnLink Midstream by 0.6% during the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock worth $2,182,000 after acquiring an additional 960 shares during the period. Bank of New York Mellon Corp lifted its holdings in EnLink Midstream by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after purchasing an additional 1,151 shares during the last quarter. Citigroup Inc. boosted its stake in EnLink Midstream by 0.6% in the 3rd quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 1,473 shares during the period. Sunbelt Securities Inc. grew its holdings in EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares in the last quarter. Finally, Tidal Investments LLC increased its position in EnLink Midstream by 9.7% during the 3rd quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock worth $266,000 after buying an additional 1,623 shares during the period. 45.87% of the stock is owned by institutional investors.

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.