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

Analysts at StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a report released on Tuesday. The firm set a “hold” rating on the pipeline company’s stock.

Several other brokerages have also recently weighed in on ENLC. Mizuho reissued a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, November 21st. Finally, Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Up 1.0 %

ENLC opened at $14.47 on Tuesday. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $16.40. 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 business’s 50-day moving average price is $14.94 and its 200-day moving average price is $14.32. The company has a market cap of $6.61 billion, a P/E ratio of 68.90 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. EnLink Midstream’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. On average, equities analysts expect that EnLink Midstream will post 0.51 EPS for the current year.

Insider Transactions at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Newbridge Financial Services Group Inc. purchased a new stake in EnLink Midstream during the 2nd quarter valued at $56,000. Wilmington Savings Fund Society FSB purchased a new stake in EnLink Midstream during the third quarter valued at $98,000. Icon Wealth Advisors LLC bought a new position in EnLink Midstream in the third quarter valued at about $107,000. Sunbelt Securities Inc. boosted its position in EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 1,511 shares during the last quarter. Finally, Inscription Capital LLC bought a new stake in shares of EnLink Midstream during the 3rd quarter valued at about $154,000. 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.