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

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

Several other research analysts also recently weighed in on ENLC. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Monday, September 30th. Raymond James cut shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Mizuho restated a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, November 21st. Finally, US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, EnLink Midstream has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Price Performance

NYSE ENLC opened at $15.37 on Wednesday. The stock has a market capitalization of $7.02 billion, a P/E ratio of 73.17 and a beta of 2.43. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The business’s fifty day moving average is $14.91 and its two-hundred day moving average is $14.37. EnLink Midstream has a 1 year low of $11.53 and a 1 year high of $16.40.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $0.10 earnings per share. On average, research analysts forecast that EnLink Midstream will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. bought a new position in EnLink Midstream during the second quarter valued at about $56,000. Wilmington Savings Fund Society FSB bought a new position in shares of EnLink Midstream in the 3rd quarter valued at approximately $98,000. Icon Wealth Advisors LLC acquired a new stake in EnLink Midstream in the 3rd quarter worth approximately $107,000. SG Americas Securities LLC acquired a new position in EnLink Midstream during the fourth quarter valued at approximately $114,000. Finally, Sunbelt Securities Inc. grew its holdings in EnLink Midstream by 21.9% during the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 1,511 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

About EnLink Midstream

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.