Royal Bank of Canada Reiterates “Sector Perform” Rating for EnLink Midstream (NYSE:ENLC)

EnLink Midstream (NYSE:ENLC)‘s stock had its “sector perform” rating restated by equities researchers at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They currently have a $15.00 price target on the pipeline company’s stock. Royal Bank of Canada’s price target points to a potential downside of 4.73% from the stock’s current price.

A number of other equities analysts have also recently issued reports on ENLC. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Mizuho reissued a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Tudor, Pickering, Holt & Co. upgraded 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. Finally, Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Price Performance

Shares of NYSE ENLC opened at $15.75 on Thursday. 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 company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 74.98 and a beta of 2.41. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $15.85. The business has a 50 day simple moving average of $14.89 and a 200-day simple moving average of $13.94.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, equities research analysts expect that EnLink Midstream will post 0.55 earnings per share for the current year.

Insider Activity at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of EnLink Midstream in the 1st quarter worth approximately $105,000. Clearbridge Investments LLC acquired a new position in EnLink Midstream in the first quarter worth approximately $873,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of EnLink Midstream by 4.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 184,007 shares of the pipeline company’s stock valued at $2,513,000 after buying an additional 8,218 shares in the last quarter. Blackstone Inc. lifted its position in shares of EnLink Midstream by 3.8% during the 1st quarter. Blackstone Inc. now owns 1,500,470 shares of the pipeline company’s stock valued at $20,466,000 after acquiring an additional 55,000 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of EnLink Midstream during the 1st quarter worth $1,453,000. 45.87% of the stock is currently owned by 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.