Equities research analysts at StockNews.com began coverage on shares of EnLink Midstream (NYSE:ENLC – Get Free Report) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the pipeline company’s stock.
A number of other research analysts have also recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, September 30th. Finally, Mizuho reissued a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, EnLink Midstream has a consensus rating of “Hold” and a consensus price target of $15.40.
Get Our Latest Research Report on EnLink Midstream
EnLink Midstream Price Performance
EnLink Midstream (NYSE:ENLC – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. As a group, equities analysts forecast that EnLink Midstream will post 0.46 earnings per share for the current fiscal year.
Institutional Investors Weigh In On EnLink Midstream
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of EnLink Midstream by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock valued at $191,000 after acquiring an additional 1,151 shares during the period. Hsbc Holdings PLC lifted its position in EnLink Midstream by 64.4% in the 2nd quarter. Hsbc Holdings PLC now owns 33,646 shares of the pipeline company’s stock valued at $459,000 after purchasing an additional 13,183 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of EnLink Midstream in the second quarter valued at approximately $183,000. Sei Investments Co. bought a new stake in shares of EnLink Midstream during the second quarter valued at approximately $363,000. Finally, Marshall Wace LLP acquired a new position in shares of EnLink Midstream during the second quarter worth approximately $4,766,000. Hedge funds and other institutional investors 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.
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