EnLink Midstream, LLC (NYSE:ENLC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.33.

Several research firms recently commented on ENLC. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company upgraded shares of EnLink Midstream from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $13.00 to $17.00 in a research report on Monday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Citigroup lifted their target price on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Capital One Financial assumed coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 target price on the stock.

EnLink Midstream Trading Up 0.8 %

Shares of EnLink Midstream stock opened at $14.13 on Friday. The firm has a market capitalization of $6.37 billion, a PE ratio of 40.36 and a beta of 2.43. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. The firm’s 50 day moving average is $13.37 and its 200 day moving average is $12.97. EnLink Midstream has a 1 year low of $10.91 and a 1 year high of $14.22.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. Equities research analysts forecast that EnLink Midstream will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in shares of EnLink Midstream by 1.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after acquiring an additional 186,801 shares during the period. Chickasaw Capital Management LLC lifted its position in shares of EnLink Midstream by 5.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after acquiring an additional 759,994 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of EnLink Midstream by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,736,175 shares of the pipeline company’s stock valued at $81,911,000 after acquiring an additional 342,204 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of EnLink Midstream by 13.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company’s stock valued at $37,618,000 after acquiring an additional 378,450 shares during the period. Finally, Westwood Holdings Group Inc. lifted its position in shares of EnLink Midstream by 22.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after acquiring an additional 416,424 shares during the period. Institutional investors and hedge funds 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.