EnLink Midstream, LLC (NYSE:ENLC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, October 17th. The brokerage currently has a $19.00 target price on the pipeline company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 19.31% from the stock’s previous close.
According to Zacks, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas. “
Several other research firms have also recently issued reports on ENLC. BidaskClub upgraded shares of EnLink Midstream from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Jefferies Group LLC upgraded shares of EnLink Midstream from an “underperform” rating to a “hold” rating and lowered their target price for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. Barclays PLC reiterated a “hold” rating and issued a $19.00 target price on shares of EnLink Midstream in a research note on Friday, July 21st. Royal Bank Of Canada reiterated a “hold” rating and issued a $21.00 target price on shares of EnLink Midstream in a research note on Monday, July 31st. Finally, Citigroup Inc. upgraded shares of EnLink Midstream to a “neutral” rating and set a $19.00 target price on the stock in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.83.
EnLink Midstream (NYSE ENLC) traded up $0.40 on Tuesday, hitting $16.00. 491,729 shares of the company were exchanged, compared to its average volume of 473,277. The company has a market cap of $2,816.96, a PE ratio of 520.00 and a beta of 2.59. EnLink Midstream has a 1-year low of $14.80 and a 1-year high of $20.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 0.85.
EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. EnLink Midstream had a return on equity of 0.15% and a net margin of 0.12%. The firm’s revenue was up 26.6% on a year-over-year basis. research analysts predict that EnLink Midstream will post 0.3 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of ENLC. Principal Financial Group Inc. raised its position in shares of EnLink Midstream by 33.2% during the 2nd quarter. Principal Financial Group Inc. now owns 2,101,858 shares of the pipeline company’s stock valued at $36,993,000 after buying an additional 523,482 shares in the last quarter. Morgan Stanley raised its position in EnLink Midstream by 66.7% in the 1st quarter. Morgan Stanley now owns 657,043 shares of the pipeline company’s stock worth $12,747,000 after purchasing an additional 262,855 shares during the period. Hodges Capital Management Inc. purchased a new position in EnLink Midstream in the 2nd quarter worth $4,480,000. Dimensional Fund Advisors LP raised its position in EnLink Midstream by 12.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,153,393 shares of the pipeline company’s stock worth $37,899,000 after purchasing an additional 245,455 shares during the period. Finally, Lazard Asset Management LLC raised its position in EnLink Midstream by 142.8% in the 2nd quarter. Lazard Asset Management LLC now owns 400,652 shares of the pipeline company’s stock worth $7,051,000 after purchasing an additional 235,609 shares during the period. Hedge funds and other institutional investors own 34.47% of the company’s stock.
About EnLink Midstream
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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