EnLink Midstream (NYSE:ENLC) Now Covered by Analysts at StockNews.com

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

ENLC has been the subject of several other reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. UBS Group downgraded EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research note on Monday, September 30th. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Mizuho restated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. Finally, US Capital Advisors cut shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven equities 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Price Performance

Shares of ENLC opened at $14.79 on Thursday. The business’s 50-day moving average is $14.90 and its 200-day moving average is $14.41. 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 company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 70.41 and a beta of 2.43. EnLink Midstream has a fifty-two week low of $11.55 and a fifty-two week high of $16.40.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENLC. Newbridge Financial Services Group Inc. acquired a new position in EnLink Midstream during the 2nd quarter worth $56,000. Wilmington Savings Fund Society FSB acquired a new position in shares of EnLink Midstream during the 3rd quarter worth about $98,000. Icon Wealth Advisors LLC bought a new stake in EnLink Midstream during the 3rd quarter valued at approximately $107,000. SG Americas Securities LLC acquired a new stake in EnLink Midstream in the 4th quarter valued at approximately $114,000. Finally, Sunbelt Securities Inc. increased its position in EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after buying an additional 1,511 shares during the period. 45.87% of the stock is currently owned by institutional investors and hedge funds.

About EnLink Midstream

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.