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

Investment analysts at StockNews.com started coverage on shares of EnLink Midstream (NYSE:ENLC) in a research note issued on Friday. The firm set a “hold” rating on the pipeline company’s stock.

Other research analysts have also recently issued research reports about the company. Mizuho reissued a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Performance

Shares of ENLC stock opened at $14.11 on Friday. EnLink Midstream has a 12 month low of $11.55 and a 12 month high of $16.40. The firm has a market capitalization of $6.45 billion, a PE ratio of 67.18 and a beta of 2.43. The firm has a fifty day simple moving average of $14.79 and a two-hundred day simple moving average of $14.43. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) 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 business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The company’s revenue was down 7.9% on a year-over-year basis. Analysts forecast that EnLink Midstream will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ENLC. Newbridge Financial Services Group Inc. bought a new stake in EnLink Midstream during the second quarter valued at approximately $56,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of EnLink Midstream during the 3rd quarter valued at $98,000. Icon Wealth Advisors LLC bought a new stake in shares of EnLink Midstream during the 3rd quarter worth $107,000. SG Americas Securities LLC purchased a new position in EnLink Midstream in the fourth quarter worth $114,000. Finally, Sunbelt Securities Inc. increased its stake in EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after acquiring an additional 1,511 shares during the last quarter. Hedge funds and other 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.