JPMorgan Chase & Co. Boosts EnLink Midstream (NYSE:ENLC) Price Target to $15.00

EnLink Midstream (NYSE:ENLC) had its target price upped by JPMorgan Chase & Co. from $14.00 to $15.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the pipeline company’s stock.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company raised EnLink Midstream from an equal weight rating to an overweight rating and increased their price objective for the company from $13.00 to $17.00 in a research report on Monday, July 8th. Citigroup increased their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a buy rating in a research report on Tuesday, April 16th. StockNews.com raised EnLink Midstream from a hold rating to a buy rating in a research report on Wednesday. Finally, Capital One Financial initiated coverage on EnLink Midstream in a research report on Friday, March 22nd. They set an overweight rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $15.33.

EnLink Midstream Trading Up 1.5 %

NYSE ENLC opened at $13.90 on Wednesday. EnLink Midstream has a 12 month low of $10.91 and a 12 month high of $14.18. The stock has a market cap of $6.27 billion, a P/E ratio of 39.72 and a beta of 2.43. The stock’s fifty day moving average price is $13.31 and its 200-day moving average price is $12.92. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. As a group, equities analysts forecast that EnLink Midstream will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its position in EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,343 shares during the last quarter. Cetera Advisors LLC boosted its position in EnLink Midstream by 14.9% in the first quarter. Cetera Advisors LLC now owns 15,589 shares of the pipeline company’s stock worth $213,000 after purchasing an additional 2,025 shares during the last quarter. Comerica Bank boosted its position in EnLink Midstream by 16.2% in the first quarter. Comerica Bank now owns 14,793 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 2,063 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of EnLink Midstream in the fourth quarter worth about $27,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of EnLink Midstream by 15.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,461 shares of the pipeline company’s stock worth $200,000 after buying an additional 2,217 shares during the period. 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.