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

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

Several other research analysts have also recently commented on the company. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, August 16th. Stifel Nicolaus downgraded EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a report on Friday, August 30th. Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, 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 report on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Trading Down 0.9 %

Shares of NYSE ENLC opened at $15.33 on Friday. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a fifty day simple moving average of $15.11 and a 200-day simple moving average of $14.10. The stock has a market capitalization of $7.01 billion, a PE ratio of 73.00 and a beta of 2.44.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share 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 period in the previous year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities analysts forecast that EnLink Midstream will post 0.51 earnings per share for the current year.

Insider Activity

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENLC. Comerica Bank raised its stake in shares of EnLink Midstream by 16.2% during the 1st quarter. Comerica Bank now owns 14,793 shares of the pipeline company’s stock worth $202,000 after buying an additional 2,063 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of EnLink Midstream during the 1st quarter worth approximately $1,799,000. Cetera Advisors LLC raised its stake in shares of EnLink Midstream by 14.9% during the 1st quarter. Cetera Advisors LLC now owns 15,589 shares of the pipeline company’s stock worth $213,000 after buying an additional 2,025 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of EnLink Midstream by 63.1% during the 2nd quarter. SG Americas Securities LLC now owns 12,526 shares of the pipeline company’s stock worth $172,000 after buying an additional 4,846 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in shares of EnLink Midstream during the 2nd quarter worth approximately $28,000. 45.87% of the stock is owned by hedge funds and other institutional investors.

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.