EnLink Midstream (NYSE:ENLC) Rating Increased to Buy at StockNews.com

EnLink Midstream (NYSE:ENLC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

A number of other equities research analysts have also recently issued reports on the company. Capital One Financial began coverage on EnLink Midstream in a report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. cut their price target on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Finally, Citigroup boosted their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, EnLink Midstream has a consensus rating of “Moderate Buy” and an average target price of $14.33.

EnLink Midstream Price Performance

Shares of NYSE ENLC opened at $13.49 on Monday. The business’s 50 day moving average price is $13.23 and its two-hundred day moving average price is $12.80. The company has a market cap of $6.09 billion, a PE ratio of 38.54 and a beta of 2.36. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. EnLink Midstream has a twelve month low of $9.88 and a twelve month high of $14.18.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.79 billion. On average, analysts predict that EnLink Midstream will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ENLC. Mariner LLC increased its holdings in EnLink Midstream by 9.1% in the third quarter. Mariner LLC now owns 120,915 shares of the pipeline company’s stock valued at $1,478,000 after purchasing an additional 10,088 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in EnLink Midstream in the third quarter valued at $1,337,000. Hodges Capital Management Inc. acquired a new stake in EnLink Midstream in the third quarter valued at $3,246,000. Glenmede Trust Co. NA increased its holdings in EnLink Midstream by 2.4% in the third quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock valued at $795,000 after purchasing an additional 1,494 shares during the period. Finally, Alps Advisors Inc. increased its holdings in EnLink Midstream by 11.0% in the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after purchasing an additional 4,200,733 shares during the period. 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.