EnLink Midstream (NYSE:ENLC) Lowered to Hold Rating by US Capital Advisors

EnLink Midstream (NYSE:ENLC) was downgraded by US Capital Advisors from a “moderate buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.50 EPS and Q4 2025 earnings at $0.28 EPS.

ENLC has been the topic of several other research reports. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Friday, August 30th. Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Monday, September 30th. Finally, Mizuho reaffirmed a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Performance

Shares of EnLink Midstream stock opened at $15.85 on Tuesday. The business has a 50-day moving average of $14.96 and a 200 day moving average of $13.99. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $16.40. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 75.48 and a beta of 2.41. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last posted 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 company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. EnLink Midstream’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. As a group, sell-side analysts forecast that EnLink Midstream will post 0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EnLink Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in shares of EnLink Midstream by 9.7% in the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 1,623 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of EnLink Midstream in the third quarter worth $98,000. Sanctuary Advisors LLC raised its holdings in shares of EnLink Midstream by 8.5% in the third quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock worth $473,000 after acquiring an additional 2,362 shares during the last quarter. Zimmer Partners LP acquired a new position in shares of EnLink Midstream in the third quarter worth $363,000. Finally, Brookfield Corp ON raised its holdings in shares of EnLink Midstream by 97.1% in the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock worth $52,285,000 after acquiring an additional 1,775,203 shares during the last quarter. 45.87% of the stock is 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.