EnLink Midstream (NYSE:ENLC) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report released on Friday morning. The brokerage issued a hold rating on the pipeline company’s stock.

Several other research firms have also issued reports on ENLC. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Mizuho reiterated a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Finally, US Capital Advisors lowered EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Trading Up 2.9 %

Shares of ENLC opened at $14.56 on Friday. EnLink Midstream has a twelve month low of $11.55 and a twelve month high of $16.40. The firm has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock’s fifty day simple moving average is $14.76 and its 200 day simple moving average is $14.42.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data 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). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, equities research analysts forecast that EnLink Midstream will post 0.46 earnings per share for the current year.

Institutional Trading of EnLink Midstream

A number of hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC acquired a new stake in shares of EnLink Midstream during the 4th quarter valued at approximately $55,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of EnLink Midstream during the second quarter worth $56,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of EnLink Midstream during the third quarter worth $98,000. Icon Wealth Advisors LLC bought a new position in shares of EnLink Midstream in the 3rd quarter worth about $107,000. Finally, SG Americas Securities LLC acquired a new position in shares of EnLink Midstream in the 4th quarter valued at about $114,000. 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.