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

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a report issued on Friday. The brokerage issued a hold rating on the pipeline company’s stock.

Several other research firms have also issued reports on ENLC. US Capital Advisors lowered EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report 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. 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. 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. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EnLink Midstream has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Performance

NYSE ENLC opened at $14.56 on Friday. EnLink Midstream has a 12-month low of $11.55 and a 12-month high of $16.40. The firm has a 50-day moving average price of $14.74 and a two-hundred day moving average price of $14.43. The company has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results 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 net margin of 1.96% and a return on equity of 9.51%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was down 7.9% on a year-over-year basis. Analysts anticipate that EnLink Midstream will post 0.46 earnings per share for the current year.

Institutional Trading of EnLink Midstream

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new stake in shares of EnLink Midstream during the fourth quarter worth about $55,000. Newbridge Financial Services Group Inc. bought a new stake in EnLink Midstream during the 2nd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB acquired a new position in EnLink Midstream in the 3rd quarter valued at approximately $98,000. Icon Wealth Advisors LLC bought a new position in shares of EnLink Midstream during the third quarter valued at $107,000. Finally, SG Americas Securities LLC acquired a new position in shares of EnLink Midstream during the fourth quarter worth $114,000. Institutional investors and hedge funds 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.