StockNews.com Begins Coverage on EnLink Midstream (NYSE:ENLC)

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

ENLC has been the topic of several other reports. US Capital Advisors cut shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Raymond James cut 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 set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EnLink Midstream presently has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Down 1.4 %

ENLC stock opened at $14.29 on Tuesday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $6.53 billion, a P/E ratio of 68.05 and a beta of 2.43. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $16.40. The business has a 50-day moving average of $14.97 and a 200-day moving average of $14.30.

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). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $0.10 EPS. The company’s revenue was down 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that EnLink Midstream will post 0.51 earnings per share 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 EnLink Midstream stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

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 about $56,000. Wilmington Savings Fund Society FSB bought 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. Sunbelt Securities Inc. boosted its position 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 in the last quarter. Finally, Inscription Capital LLC bought a new position in EnLink Midstream in the third quarter valued at approximately $154,000. 45.87% of the stock is currently 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.