EnLink Midstream (NYSE:ENLC) Price Target Raised to $12.00

EnLink Midstream (NYSE:ENLCGet Rating) had its price target boosted by Mizuho from $9.00 to $12.00 in a report issued on Thursday, The Fly reports. Mizuho’s price objective would indicate a potential upside of 7.43% from the company’s previous close.

Several other equities research analysts also recently issued reports on ENLC. Zacks Investment Research upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Thursday, April 21st. Raymond James increased their price objective on EnLink Midstream from $11.00 to $12.00 in a report on Wednesday. Morgan Stanley increased their price objective on EnLink Midstream from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Credit Suisse Group increased their price objective on EnLink Midstream from $6.50 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, April 19th. Finally, StockNews.com downgraded EnLink Midstream from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.63.

Shares of EnLink Midstream stock opened at $11.17 on Thursday. EnLink Midstream has a 1 year low of $4.36 and a 1 year high of $11.20. The business has a 50-day moving average of $9.66 and a two-hundred day moving average of $8.25. The company has a market capitalization of $5.41 billion, a P/E ratio of 79.79 and a beta of 2.76. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.02 and a quick ratio of 1.02.

EnLink Midstream (NYSE:ENLCGet Rating) last announced its quarterly earnings results on Tuesday, February 15th. The pipeline company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. EnLink Midstream had a return on equity of 0.73% and a net margin of 0.34%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company earned $0.03 earnings per share. On average, equities analysts anticipate that EnLink Midstream will post 0.24 EPS for the current fiscal year.

In related news, Director Kyle D. Vann sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $8.26, for a total transaction of $82,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its position in EnLink Midstream by 23.7% during the first quarter. Commonwealth Equity Services LLC now owns 57,122 shares of the pipeline company’s stock valued at $551,000 after purchasing an additional 10,953 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of EnLink Midstream in the first quarter valued at approximately $3,015,000. Fort Washington Investment Advisors Inc. OH lifted its position in shares of EnLink Midstream by 557.8% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 113,800 shares of the pipeline company’s stock valued at $1,098,000 after buying an additional 96,500 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of EnLink Midstream by 5.4% in the first quarter. SG Americas Securities LLC now owns 94,563 shares of the pipeline company’s stock valued at $913,000 after buying an additional 4,828 shares during the last quarter. Finally, McDonald Partners LLC acquired a new stake in shares of EnLink Midstream in the first quarter valued at approximately $108,000. 39.98% of the stock is owned by hedge funds and other institutional investors.

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.

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