EnLink Midstream (NYSE:ENLC) Earns Hold Rating from Analysts at StockNews.com

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

Several other brokerages also recently commented on ENLC. Mizuho reaffirmed a “neutral” rating and issued 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 report on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, November 21st. Finally, US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Eleven research 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 company. Based on data from MarketBeat, EnLink Midstream currently has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Price Performance

Shares of ENLC stock opened at $14.56 on Friday. The firm’s 50 day moving average is $14.74 and its 200-day moving average is $14.43. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43. EnLink Midstream has a 1 year low of $11.55 and a 1 year high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last issued its 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). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. Sell-side analysts forecast that EnLink Midstream will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of EnLink Midstream by 100.8% during the 3rd quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock worth $1,883,000 after acquiring an additional 63,997 shares during the last quarter. Segment Wealth Management LLC boosted its position in EnLink Midstream by 44.8% during the fourth quarter. Segment Wealth Management LLC now owns 208,381 shares of the pipeline company’s stock worth $2,949,000 after purchasing an additional 64,512 shares during the period. Walleye Capital LLC increased its holdings in shares of EnLink Midstream by 1,829.6% in the third quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock valued at $4,095,000 after purchasing an additional 267,619 shares during the last quarter. Wellington Management Group LLP raised its position in shares of EnLink Midstream by 268.0% in the third quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock valued at $5,834,000 after purchasing an additional 292,833 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of EnLink Midstream by 120.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after buying an additional 1,141,254 shares during the last quarter. 45.87% of the stock is owned by institutional investors.

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.