EnLink Midstream (NYSE:ENLC) Sees Large Volume Increase – What’s Next?

EnLink Midstream, LLC (NYSE:ENLC) saw unusually-strong trading volume on Wednesday . Approximately 4,822,476 shares were traded during trading, an increase of 44% from the previous session’s volume of 3,345,005 shares.The stock last traded at $14.13 and had previously closed at $14.16.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ENLC shares. StockNews.com initiated coverage on shares of EnLink Midstream in a report on Friday. They issued a “hold” rating for the company. Mizuho restated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, October 31st. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, November 21st. Finally, US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, EnLink Midstream currently has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Price Performance

The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50 day moving average price of $14.76 and a 200 day moving average price of $14.42. The firm has a market cap of $6.65 billion, a PE ratio of 69.33 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data 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 firm had revenue of $1.61 billion for 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%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. Sell-side analysts expect that EnLink Midstream, LLC will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On EnLink Midstream

A number of institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new stake in shares of EnLink Midstream in the 4th quarter valued at approximately $55,000. Newbridge Financial Services Group Inc. acquired a new stake in EnLink Midstream in the second quarter valued at $56,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of EnLink Midstream during the 3rd quarter worth $98,000. Icon Wealth Advisors LLC acquired a new position in shares of EnLink Midstream during the 3rd quarter worth $107,000. Finally, SG Americas Securities LLC purchased a new position in shares of EnLink Midstream in the 4th quarter valued at about $114,000. Hedge funds and other 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.