EnLink Midstream (NYSE:ENLC) Raised to Buy at StockNews.com

StockNews.com upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a report released on Wednesday morning.

Several other research firms have also commented on ENLC. Citigroup raised their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Wells Fargo & Company raised EnLink Midstream from an equal weight rating to an overweight rating and boosted their price target for the stock from $13.00 to $17.00 in a research report on Monday, July 8th. Finally, Capital One Financial assumed coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They issued an overweight rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $15.33.

EnLink Midstream Stock Performance

NYSE ENLC opened at $13.90 on Wednesday. The business’s 50-day simple moving average is $13.31 and its 200-day simple moving average is $12.92. The firm has a market capitalization of $6.27 billion, a P/E ratio of 39.72 and a beta of 2.43. EnLink Midstream has a 1-year low of $10.91 and a 1-year high of $14.18. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. Equities analysts predict that EnLink Midstream will post 0.62 EPS for the current year.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of EnLink Midstream during the fourth quarter worth approximately $27,000. JNBA Financial Advisors acquired a new stake in shares of EnLink Midstream in the 4th quarter valued at about $30,000. Sunbelt Securities Inc. lifted its position in shares of EnLink Midstream by 232.4% during the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 3,837 shares during the last quarter. UMB Bank n.a. grew its stake in EnLink Midstream by 198.8% in the fourth quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock worth $72,000 after purchasing an additional 3,965 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in EnLink Midstream in the first quarter valued at about $105,000. 45.87% of the stock is owned by institutional investors and hedge funds.

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.