EnLink Midstream (NYSE:ENLC) Upgraded to Buy by StockNews.com

EnLink Midstream (NYSE:ENLC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts also recently commented on the company. Citigroup increased their target price on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company raised EnLink Midstream from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $13.00 to $17.00 in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. increased their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.33.

EnLink Midstream Price Performance

Shares of NYSE ENLC opened at $12.35 on Tuesday. EnLink Midstream has a fifty-two week low of $11.44 and a fifty-two week high of $14.38. The business has a 50 day moving average price of $13.39 and a two-hundred day moving average price of $13.11. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm has a market cap of $5.57 billion, a PE ratio of 35.27 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the business earned $0.12 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Sell-side analysts expect that EnLink Midstream will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of EnLink Midstream

Several hedge funds have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC lifted its holdings in shares of EnLink Midstream by 2,629.4% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock worth $27,560,000 after purchasing an additional 1,929,551 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in EnLink Midstream by 64.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 969,102 shares of the pipeline company’s stock valued at $13,335,000 after acquiring an additional 380,729 shares in the last quarter. Marshall Wace LLP bought a new stake in EnLink Midstream during the 2nd quarter valued at $4,766,000. Westwood Holdings Group Inc. raised its stake in EnLink Midstream by 4.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock valued at $32,363,000 after acquiring an additional 106,467 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in EnLink Midstream during the 2nd quarter valued at $363,000. Institutional investors 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.