EnLink Midstream (NYSE:ENLC) Upgraded to “Buy” at StockNews.com

EnLink Midstream (NYSE:ENLCGet Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

ENLC has been the topic of several other reports. Wells Fargo & Company raised EnLink Midstream from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $13.00 to $17.00 in a research note on Monday. Citigroup increased their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Capital One Financial initiated 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.17.

Get Our Latest Stock Analysis on EnLink Midstream

EnLink Midstream Trading Down 0.6 %

ENLC stock opened at $13.77 on Wednesday. The firm has a fifty day moving average price of $13.25 and a 200 day moving average price of $12.90. EnLink Midstream has a fifty-two week low of $10.87 and a fifty-two week high of $14.18. The firm has a market cap of $6.21 billion, a PE ratio of 39.34 and a beta of 2.43. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.78 and a current ratio of 0.78.

EnLink Midstream (NYSE:ENLCGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. Sell-side analysts anticipate that EnLink Midstream will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EnLink Midstream

Several hedge funds have recently modified their holdings of ENLC. Kayne Anderson Capital Advisors LP raised its stake in EnLink Midstream by 6.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 1,860,400 shares of the pipeline company’s stock worth $22,622,000 after acquiring an additional 111,300 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of EnLink Midstream by 13.3% during the first quarter. Hennessy Advisors Inc. now owns 2,116,600 shares of the pipeline company’s stock worth $28,870,000 after purchasing an additional 248,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in EnLink Midstream by 240.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,500 shares of the pipeline company’s stock valued at $4,530,000 after buying an additional 263,100 shares during the last quarter. Miller Howard Investments Inc. NY increased its holdings in EnLink Midstream by 3.3% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,160,476 shares of the pipeline company’s stock worth $29,469,000 after buying an additional 68,877 shares during the period. Finally, TCG Advisory Services LLC acquired a new position in EnLink Midstream in the 4th quarter worth approximately $2,991,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

EnLink Midstream Company Profile

(Get Free Report)

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.

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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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