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

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

A number of other analysts have also issued reports on the stock. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 30th. Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research report on Monday, September 16th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Friday, August 16th. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Finally, Tudor Pickering raised EnLink Midstream to a “strong-buy” rating 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. According to MarketBeat, EnLink Midstream has a consensus rating of “Hold” and an average target price of $15.40.

EnLink Midstream Trading Down 0.4 %

NYSE ENLC opened at $14.64 on Friday. The company has a market cap of $6.69 billion, a P/E ratio of 69.71 and a beta of 2.44. EnLink Midstream has a 12 month low of $11.53 and a 12 month 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. The company has a 50-day moving average of $15.11 and a 200-day moving average of $14.17.

EnLink Midstream (NYSE:ENLC) last issued its earnings results 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). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. EnLink Midstream’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. As a group, equities analysts predict that EnLink Midstream will post 0.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

Hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in shares of EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 853 shares during the last quarter. First Dallas Securities Inc. grew its stake in EnLink Midstream by 0.6% during the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock worth $2,182,000 after buying an additional 960 shares during the last quarter. Callahan Advisors LLC increased its holdings in shares of EnLink Midstream by 8.7% during the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock worth $172,000 after buying an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EnLink Midstream by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after buying an additional 1,151 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of EnLink Midstream by 0.6% in the third quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 1,473 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.