Citigroup Inc. Lowers EnLink Midstream, LLC (NYSE:ENLC) Price Target to $19.00

EnLink Midstream, LLC (NYSE:ENLC) had its target price cut by equities researchers at Citigroup Inc. from $21.00 to $19.00 in a research report issued to clients and investors on Thursday, November 2nd. The brokerage currently has a “buy” rating on the pipeline company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 24.59% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. UBS AG raised shares of EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, October 24th. BidaskClub downgraded shares of EnLink Midstream from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Seaport Global Securities assumed coverage on shares of EnLink Midstream in a research report on Tuesday, October 10th. They set a “neutral” rating and a $16.00 price objective for the company. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $21.00 price objective on shares of EnLink Midstream in a research report on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $18.83.

Shares of EnLink Midstream (ENLC) traded down $0.15 during midday trading on Thursday, reaching $15.25. 426,200 shares of the company were exchanged, compared to its average volume of 408,641. The company has a market cap of $2,781.07, a price-to-earnings ratio of 513.33 and a beta of 2.59. EnLink Midstream has a 1-year low of $15.07 and a 1-year high of $20.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. The company’s revenue was up 26.6% on a year-over-year basis. analysts predict that EnLink Midstream will post 0.3 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chickasaw Capital Management LLC raised its stake in shares of EnLink Midstream by 0.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 15,656,055 shares of the pipeline company’s stock worth $275,547,000 after purchasing an additional 100,025 shares during the period. Eagle Global Advisors LLC raised its stake in shares of EnLink Midstream by 5.9% during the 2nd quarter. Eagle Global Advisors LLC now owns 3,741,870 shares of the pipeline company’s stock worth $65,857,000 after purchasing an additional 206,991 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in shares of EnLink Midstream by 3.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 3,461,842 shares of the pipeline company’s stock worth $60,928,000 after purchasing an additional 113,842 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of EnLink Midstream by 14.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock worth $42,577,000 after purchasing an additional 314,840 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of EnLink Midstream by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,182,575 shares of the pipeline company’s stock worth $37,650,000 after purchasing an additional 80,717 shares during the period. Institutional investors own 34.46% of the company’s stock.

EnLink Midstream Company Profile

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.

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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