EnLink Midstream (NYSE:ENLC) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of EnLink Midstream (NYSE:ENLCFree Report) from an equal weight rating to an overweight rating in a report issued on Monday, Marketbeat.com reports. Wells Fargo & Company currently has $17.00 price objective on the pipeline company’s stock, up from their prior price objective of $13.00.

Other analysts have also recently issued reports about the stock. Citigroup raised their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Capital One Financial started coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They issued an overweight rating and a $15.00 target price for the company. Finally, StockNews.com cut shares of EnLink Midstream from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, EnLink Midstream has a consensus rating of Moderate Buy and an average target price of $15.33.

Check Out Our Latest Stock Report on ENLC

EnLink Midstream Stock Performance

ENLC stock opened at $13.68 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $6.17 billion, a P/E ratio of 39.07 and a beta of 2.43. The firm has a 50 day simple moving average of $13.27 and a 200 day simple moving average of $12.91. EnLink Midstream has a 52 week low of $10.91 and a 52 week high of $14.18.

EnLink Midstream (NYSE:ENLCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.79 billion. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. Research analysts anticipate that EnLink Midstream will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors have recently modified their holdings of the company. Chickasaw Capital Management LLC raised its position in shares of EnLink Midstream by 5.5% in the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after purchasing an additional 759,994 shares during the period. NBW Capital LLC raised its position in shares of EnLink Midstream by 5.7% in the first quarter. NBW Capital LLC now owns 1,098,404 shares of the pipeline company’s stock valued at $14,982,000 after purchasing an additional 59,122 shares during the period. Westwood Holdings Group Inc. raised its position in shares of EnLink Midstream by 22.8% in the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after purchasing an additional 416,424 shares during the period. Cetera Advisors LLC raised its position in shares of EnLink Midstream by 14.9% in the first quarter. Cetera Advisors LLC now owns 15,589 shares of the pipeline company’s stock valued at $213,000 after purchasing an additional 2,025 shares during the period. Finally, Cetera Investment Advisers bought a new position in EnLink Midstream during the first quarter worth $1,799,000. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Company Profile

(Get Free Report)

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.

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