EnLink Midstream (NYSE:ENLC) Rating Lowered to Hold at US Capital Advisors

EnLink Midstream (NYSE:ENLC) was downgraded by equities researchers at US Capital Advisors from a “moderate buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.50 EPS and Q4 2025 earnings at $0.28 EPS.

ENLC has been the subject of a number of other research reports. UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, September 30th. Royal Bank of Canada restated a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, August 16th. Mizuho reiterated a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, October 31st. Finally, Wells Fargo & Company downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $16.00 to $15.00 in a research note on Friday, August 30th. Ten investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.40.

EnLink Midstream Price Performance

Shares of NYSE ENLC opened at $15.91 on Tuesday. 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 business’s 50 day moving average price is $14.94 and its two-hundred day moving average price is $13.98. The company has a market cap of $7.27 billion, a PE ratio of 75.76 and a beta of 2.41. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year. On average, analysts predict that EnLink Midstream will post 0.55 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC boosted its position in EnLink Midstream by 9.7% in the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock valued at $266,000 after buying an additional 1,623 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of EnLink Midstream in the 3rd quarter valued at $98,000. Sanctuary Advisors LLC grew its position in EnLink Midstream by 8.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock worth $473,000 after acquiring an additional 2,362 shares during the last quarter. Zimmer Partners LP acquired a new position in EnLink Midstream in the 3rd quarter worth about $363,000. Finally, Brookfield Corp ON raised its position in EnLink Midstream by 97.1% in the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after purchasing an additional 1,775,203 shares during the last quarter. Institutional investors 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.