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

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

Other analysts also recently issued reports about the company. UBS Group lifted their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Citigroup raised their target price on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Finally, Capital One Financial began coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, EnLink Midstream currently has a consensus rating of “Moderate Buy” and an average price target of $14.63.

EnLink Midstream Stock Performance

EnLink Midstream stock opened at $13.48 on Friday. 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 company has a market capitalization of $6.11 billion, a PE ratio of 30.64 and a beta of 2.39. The company has a 50 day moving average price of $12.94 and a 200-day moving average price of $12.60. EnLink Midstream has a fifty-two week low of $8.45 and a fifty-two week high of $14.18.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. As a group, equities analysts forecast that EnLink Midstream will post 0.6 earnings per share for the current year.

Insider Transactions at EnLink Midstream

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of EnLink Midstream by 70.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock valued at $152,247,000 after purchasing an additional 5,152,252 shares during the period. Alps Advisors Inc. increased its holdings in EnLink Midstream by 11.0% in the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after buying an additional 4,200,733 shares during the period. JPMorgan Chase & Co. raised its position in EnLink Midstream by 147.3% during the 1st quarter. JPMorgan Chase & Co. now owns 6,317,977 shares of the pipeline company’s stock worth $68,487,000 after buying an additional 3,763,192 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in EnLink Midstream by 63.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 6,928,608 shares of the pipeline company’s stock valued at $58,893,000 after acquiring an additional 2,697,480 shares during the period. Finally, Hennessy Advisors Inc. boosted its holdings in shares of EnLink Midstream by 1,614.2% in the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after acquiring an additional 1,759,500 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.