EnLink Midstream, LLC (NYSE:ENLC) Given Consensus Rating of “Hold” by Analysts

EnLink Midstream, LLC (NYSE:ENLC) has earned an average rating of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $15.40.

ENLC has been the subject of several research analyst reports. 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 set a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, November 21st. Mizuho restated a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, October 31st. StockNews.com initiated coverage on EnLink Midstream in a research note on Friday, January 31st. They set a “hold” rating for the company. Finally, US Capital Advisors lowered EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Merewether Investment Management LP purchased a new position in EnLink Midstream in the third quarter valued at about $64,477,000. Brookfield Corp ON boosted its holdings 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. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in EnLink Midstream by 32.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock valued at $48,236,000 after buying an additional 812,767 shares in the last quarter. Miller Howard Investments Inc. NY raised its stake in EnLink Midstream by 1.4% during the fourth quarter. Miller Howard Investments Inc. NY now owns 2,320,292 shares of the pipeline company’s stock valued at $32,832,000 after buying an additional 33,025 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after buying an additional 1,141,254 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Performance

EnLink Midstream stock opened at $14.56 on Thursday. The firm has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. The stock has a fifty day moving average price of $14.69 and a 200 day moving average price of $14.44. EnLink Midstream has a 52 week low of $11.55 and a 52 week 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 announced its quarterly earnings results 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 firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities research analysts anticipate that EnLink Midstream will post 0.46 earnings per share for the current year.

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.