EnLink Midstream (NYSE:ENLC) Given Sector Perform Rating at Royal Bank of Canada

EnLink Midstream (NYSE:ENLC)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They presently have a $15.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s price objective points to a potential downside of 3.78% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Tudor, Pickering, Holt & Co. upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday, August 16th. Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $16.00 to $15.00 in a research note on Friday, August 30th. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a report on Monday, September 16th. Finally, Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, EnLink Midstream presently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Price Performance

Shares of EnLink Midstream stock traded up $0.13 during trading hours on Thursday, reaching $15.59. The stock had a trading volume of 24,775 shares, compared to its average volume of 2,011,473. 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 has a twelve month low of $11.53 and a twelve month high of $15.67. The stock’s 50 day moving average is $14.84 and its 200 day moving average is $13.91. The firm has a market capitalization of $7.13 billion, a PE ratio of 73.76 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). The company 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 firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. Equities analysts expect that EnLink Midstream will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On EnLink Midstream

A number of hedge funds have recently added to or reduced their stakes in ENLC. SG Americas Securities LLC purchased a new stake in shares of EnLink Midstream in the first quarter valued at approximately $105,000. Clearbridge Investments LLC purchased a new position in shares of EnLink Midstream in the 1st quarter valued at about $873,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of EnLink Midstream by 4.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 184,007 shares of the pipeline company’s stock valued at $2,513,000 after purchasing an additional 8,218 shares during the period. Blackstone Inc. lifted its stake in shares of EnLink Midstream by 3.8% in the first quarter. Blackstone Inc. now owns 1,500,470 shares of the pipeline company’s stock valued at $20,466,000 after purchasing an additional 55,000 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in EnLink Midstream during the first quarter worth about $1,453,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

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.