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 report issued on Friday. The firm set a “hold” rating on the pipeline company’s stock.

Several other research analysts also recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, November 21st. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a report on Monday, September 16th. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Capital One Financial reiterated an “equal weight” rating and issued a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. Finally, Tudor, Pickering, Holt & Co. upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, August 16th. 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 MarketBeat, EnLink Midstream presently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Trading Up 1.2 %

Shares of EnLink Midstream stock opened at $15.47 on Friday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. EnLink Midstream has a 1 year low of $11.53 and a 1 year high of $16.40. The company has a market capitalization of $7.07 billion, a P/E ratio of 73.67 and a beta of 2.44. The business has a 50 day moving average price of $15.09 and a 200 day moving average price of $14.08.

EnLink Midstream (NYSE:ENLC) last issued 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 prior year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. Sell-side analysts anticipate that EnLink Midstream will post 0.51 EPS for the current fiscal year.

Insider Transactions at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of EnLink Midstream by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock valued at $93,884,000 after buying an additional 133,327 shares during the last quarter. Merewether Investment Management LP acquired a new position in shares of EnLink Midstream during the third quarter valued at approximately $64,477,000. Brookfield Corp ON increased its stake in shares of EnLink Midstream by 97.1% during the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after acquiring an additional 1,775,203 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of EnLink Midstream by 32.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock valued at $48,236,000 after acquiring an additional 812,767 shares during the period. Finally, Hennessy Advisors Inc. increased its stake in shares of EnLink Midstream by 17.0% during the second quarter. Hennessy Advisors Inc. now owns 2,477,000 shares of the pipeline company’s stock valued at $34,084,000 after acquiring an additional 360,400 shares during the period. 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.