EnLink Midstream (NYSE:ENLC) Now Covered by StockNews.com

StockNews.com started coverage on shares of EnLink Midstream (NYSE:ENLC) in a report published on Thursday morning. The firm issued a hold rating on the pipeline company’s stock.

A number of other research analysts have also commented on ENLC. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Monday, September 30th. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, November 21st. Finally, Mizuho restated a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, October 31st. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Trading Down 1.2 %

EnLink Midstream stock opened at $14.79 on Thursday. EnLink Midstream has a 52-week low of $11.55 and a 52-week high of $16.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 70.41 and a beta of 2.43. The firm has a 50-day moving average price of $14.90 and a two-hundred day moving average price of $14.41.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was down 7.9% on a year-over-year basis. Sell-side analysts expect that EnLink Midstream will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On EnLink Midstream

Large investors have recently modified their holdings of the stock. Merewether Investment Management LP purchased a new stake in shares of EnLink Midstream during the third quarter valued at $64,477,000. Brookfield Corp ON lifted its stake in EnLink Midstream by 97.1% during the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after buying an additional 1,775,203 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of EnLink Midstream by 32.4% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock worth $48,236,000 after buying an additional 812,767 shares during the period. Catalyst Capital Advisors LLC raised its holdings in shares of EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after acquiring an additional 1,141,254 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of EnLink Midstream by 57.4% during the third quarter. Two Sigma Advisers LP now owns 1,181,021 shares of the pipeline company’s stock valued at $17,137,000 after acquiring an additional 430,600 shares during the period. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Company Profile

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.