StockNews.com Begins Coverage on EnLink Midstream (NYSE:ENLC)

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report sent to investors on Wednesday. The firm issued a hold rating on the pipeline company’s stock.

ENLC has been the topic of several other reports. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, November 21st. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Monday, September 30th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Finally, Mizuho reissued a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EnLink Midstream presently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Trading Up 0.4 %

EnLink Midstream stock opened at $15.37 on Wednesday. The business has a 50 day moving average price of $14.91 and a two-hundred day moving average price of $14.37. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $16.40. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 73.17 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, equities analysts forecast that EnLink Midstream will post 0.46 EPS for the current year.

Hedge Funds Weigh In On EnLink Midstream

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in EnLink Midstream by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock valued at $191,000 after buying an additional 1,151 shares during the last quarter. American Century Companies Inc. lifted its position in EnLink Midstream by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 1,586,315 shares of the pipeline company’s stock valued at $21,828,000 after purchasing an additional 10,296 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of EnLink Midstream by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock valued at $93,884,000 after purchasing an additional 133,327 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of EnLink Midstream by 64.4% during the 2nd quarter. Hsbc Holdings PLC now owns 33,646 shares of the pipeline company’s stock worth $459,000 after buying an additional 13,183 shares during the period. Finally, Thomist Capital Management LP acquired a new position in EnLink Midstream in the second quarter valued at approximately $243,000. 45.87% of the stock is currently owned by institutional investors and hedge funds.

EnLink Midstream Company Profile

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.