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

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report released on Friday. The firm issued a hold rating on the pipeline company’s stock.

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

EnLink Midstream Stock Up 2.9 %

ENLC stock opened at $14.56 on Friday. The stock has a market capitalization of $6.65 billion, a PE ratio of 69.33 and a beta of 2.43. The company has a fifty day moving average of $14.76 and a 200-day moving average of $14.42. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. EnLink Midstream has a one year low of $11.55 and a one year high of $16.40.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business earned $0.10 EPS. EnLink Midstream’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, analysts expect that EnLink Midstream will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new stake in shares of EnLink Midstream during the second quarter worth about $363,000. Millennium Management LLC boosted its position in EnLink Midstream by 1,433.6% during the second quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock worth $6,850,000 after acquiring an additional 465,383 shares during the last quarter. Mackenzie Financial Corp grew its stake in EnLink Midstream by 468.8% in the 2nd quarter. Mackenzie Financial Corp now owns 102,368 shares of the pipeline company’s stock worth $1,409,000 after acquiring an additional 84,372 shares during the period. Algert Global LLC acquired a new position in EnLink Midstream in the 2nd quarter valued at $425,000. Finally, Sunbelt Securities Inc. lifted its stake 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 purchasing an additional 1,511 shares during the period. Institutional investors and hedge funds 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.