StockNews.com Downgrades EnLink Midstream (NYSE:ENLC) to Hold

EnLink Midstream (NYSE:ENLC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other equities research analysts have also issued reports on ENLC. JPMorgan Chase & Co. decreased their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Capital One Financial started coverage on EnLink Midstream in a research report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price target for the company. Finally, UBS Group increased their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.43.

EnLink Midstream Trading Up 0.2 %

EnLink Midstream stock opened at $13.81 on Thursday. EnLink Midstream has a 52 week low of $8.45 and a 52 week high of $14.18. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 31.38 and a beta of 2.39. The company has a 50 day moving average price of $12.74 and a 200 day moving average price of $12.55.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. Research analysts forecast that EnLink Midstream will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value of $616,000.00. Following the completion of the sale, the chief accounting officer now owns 58,410 shares in the company, valued at approximately $719,611.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the sale, the chief financial officer now directly owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

Several institutional investors and hedge funds have recently made changes to their positions in ENLC. Headlands Technologies LLC acquired a new stake in EnLink Midstream during the 4th quarter valued at $27,000. National Bank of Canada FI bought a new position in shares of EnLink Midstream in the third quarter worth about $28,000. Comerica Bank acquired a new position in shares of EnLink Midstream during the second quarter valued at $250,000. JNBA Financial Advisors acquired a new position in EnLink Midstream during the 4th quarter valued at about $30,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of EnLink Midstream by 232.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock valued at $67,000 after purchasing an additional 3,837 shares during the last quarter. 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.