EnLink Midstream (NYSE:ENLC) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of EnLink Midstream (NYSE:ENLC) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the pipeline company’s stock.

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

EnLink Midstream Price Performance

NYSE ENLC opened at $14.47 on Tuesday. The business’s fifty day moving average is $14.94 and its 200 day moving average is $14.32. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $16.40. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $6.61 billion, a PE ratio of 68.90 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate 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 period last year, the business earned $0.10 EPS. Sell-side analysts predict that EnLink Midstream will post 0.51 earnings per share for the current year.

Insiders Place Their Bets

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 value of $2,985,077,219.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is currently owned by insiders.

Institutional Trading of EnLink Midstream

Several institutional investors have recently added to or reduced their stakes in ENLC. Newbridge Financial Services Group Inc. bought a new position in shares of EnLink Midstream during the second quarter valued at approximately $56,000. Wilmington Savings Fund Society FSB bought a new position in EnLink Midstream in the 3rd quarter valued at $98,000. Icon Wealth Advisors LLC purchased a new stake in EnLink Midstream in the third quarter worth $107,000. Sunbelt Securities Inc. lifted its position in shares of EnLink Midstream by 21.9% during 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 purchased a new stake in shares of EnLink Midstream during the third quarter valued at $154,000. Institutional investors own 45.87% of the company’s stock.

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.