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

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

A number of other research analysts have also commented on ENLC. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a report on Monday, September 30th. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, November 21st. 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. Finally, Mizuho reissued a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Price Performance

NYSE:ENLC opened at $14.92 on Wednesday. The company has a market cap of $6.82 billion, a P/E ratio of 71.05 and a beta of 2.43. The firm’s fifty day moving average price is $14.92 and its two-hundred day moving average price is $14.35. EnLink Midstream has a one year low of $11.53 and a one year high of $16.40. 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 (NYSE:ENLC) last announced 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). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Equities analysts expect that EnLink Midstream will post 0.51 earnings per share for the current year.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of ENLC. Van ECK Associates Corp increased its stake in shares of EnLink Midstream by 100.8% in the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after buying an additional 63,997 shares during the period. Westwood Holdings Group Inc. grew its holdings in EnLink Midstream by 4.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock worth $32,363,000 after acquiring an additional 106,467 shares during the last quarter. Walleye Capital LLC increased its position in EnLink Midstream by 1,829.6% in the 3rd quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock valued at $4,095,000 after acquiring an additional 267,619 shares during the period. Wellington Management Group LLP raised its stake in shares of EnLink Midstream by 268.0% during the third quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock valued at $5,834,000 after acquiring an additional 292,833 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its holdings in shares of EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after purchasing an additional 1,141,254 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.