EnLink Midstream (NYSE:ENLC) Rating Lowered to Hold at StockNews.com

EnLink Midstream (NYSE:ENLCGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

ENLC has been the topic of a number of other research reports. Mizuho increased their price objective on EnLink Midstream from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, February 17th. Zacks Investment Research cut EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Raymond James upped their target price on EnLink Midstream from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, February 17th. Finally, Morgan Stanley upgraded EnLink Midstream from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $7.00 to $9.00 in a research note on Friday, January 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, EnLink Midstream currently has an average rating of “Hold” and an average price target of $7.78.

Shares of ENLC opened at $10.10 on Tuesday. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 252.56 and a beta of 2.99. The firm has a fifty day moving average of $9.23 and a 200-day moving average of $8.03. EnLink Midstream has a 1 year low of $4.15 and a 1 year high of $10.47. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.02 and a current ratio of 1.02.

EnLink Midstream (NYSE:ENLCGet Rating) last issued its quarterly earnings results on Tuesday, February 15th. The pipeline company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $1.88 billion. EnLink Midstream had a net margin of 0.34% and a return on equity of 0.73%. During the same period in the prior year, the company earned $0.03 EPS. Analysts predict that EnLink Midstream will post 0.14 EPS for the current year.

In other news, Director Kyle D. Vann sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $8.26, for a total transaction of $82,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in ENLC. Royal Bank of Canada lifted its holdings in EnLink Midstream by 3.1% during the third quarter. Royal Bank of Canada now owns 214,612 shares of the pipeline company’s stock worth $1,464,000 after acquiring an additional 6,444 shares during the period. Mariner LLC bought a new stake in shares of EnLink Midstream in the 3rd quarter valued at about $354,000. National Asset Management Inc. bought a new stake in shares of EnLink Midstream in the 4th quarter valued at about $1,242,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in EnLink Midstream by 12.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,546,300 shares of the pipeline company’s stock valued at $10,546,000 after purchasing an additional 167,600 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in EnLink Midstream during the 3rd quarter valued at approximately $680,000. Institutional investors and hedge funds own 39.65% of the company’s stock.

EnLink Midstream Company Profile (Get Rating)

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.

Further Reading

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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