StockNews.com Begins Coverage on EnLink Midstream (NYSE:ENLC)

Research analysts at StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the pipeline company’s stock.

ENLC has been the subject of a number of other research reports. Mizuho restated a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research note on Friday, August 30th. Finally, Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EnLink Midstream presently has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $14.20 on Friday. EnLink Midstream has a 1-year low of $11.53 and a 1-year high of $16.40. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The business has a 50 day moving average of $15.05 and a 200 day moving average of $14.22. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 67.62 and a beta of 2.44.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data 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). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $0.10 earnings per share. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, sell-side analysts predict that EnLink Midstream will post 0.51 earnings per share for the current fiscal year.

Insider Activity at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC boosted its stake in EnLink Midstream by 9.7% in the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock valued at $266,000 after acquiring an additional 1,623 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in EnLink Midstream during the 3rd quarter worth $98,000. Sanctuary Advisors LLC increased its position in EnLink Midstream by 8.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock valued at $473,000 after buying an additional 2,362 shares in the last quarter. Zimmer Partners LP purchased a new stake in EnLink Midstream in the third quarter valued at about $363,000. Finally, 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 worth $52,285,000 after acquiring an additional 1,775,203 shares in the last quarter. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

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.