EnLink Midstream (NYSE:ENLC) Raised to Overweight at Wells Fargo & Company

EnLink Midstream (NYSE:ENLC) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat reports. The firm currently has a $17.00 price objective on the pipeline company’s stock, up from their prior price objective of $13.00. Wells Fargo & Company‘s target price points to a potential upside of 23.46% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Capital One Financial initiated coverage on EnLink Midstream in a report on Friday, March 22nd. They set an “overweight” rating and a $15.00 target price for the company. Citigroup raised their target price on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, StockNews.com cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.17.

EnLink Midstream Price Performance

NYSE:ENLC opened at $13.77 on Monday. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 39.34 and a beta of 2.43. EnLink Midstream has a 52-week low of $10.87 and a 52-week high of $14.18. The stock has a fifty day moving average of $13.25 and a 200 day moving average of $12.90. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.78 and a current ratio of 0.78.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. On average, research analysts expect that EnLink Midstream will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Goldman Sachs Group Inc. boosted its stake in shares of EnLink Midstream by 1.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock worth $194,126,000 after acquiring an additional 186,801 shares during the last quarter. Chickasaw Capital Management LLC grew its stake in EnLink Midstream by 5.5% during the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after acquiring an additional 759,994 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of EnLink Midstream by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,736,175 shares of the pipeline company’s stock worth $81,911,000 after purchasing an additional 342,204 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in EnLink Midstream by 13.9% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company’s stock worth $37,618,000 after acquiring an additional 378,450 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of EnLink Midstream by 22.8% in the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after purchasing an additional 416,424 shares in the last quarter. 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.