Stock analysts at StockNews.com assumed coverage on shares of EnLink Midstream (NYSE:ENLC - Get Free Report) in a research note issued on Friday. The brokerage set a "hold" rating on the pipeline company's stock.
Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Capital One Financial restated an "equal weight" rating and issued a $16.00 price target on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Tudor Pickering upgraded EnLink Midstream to a "strong-buy" rating in a research note on Friday, August 16th. US Capital Advisors cut shares of EnLink Midstream from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a report on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.40.
Check Out Our Latest Analysis on ENLC
EnLink Midstream Stock Down 0.9 %
EnLink Midstream stock traded down $0.13 during midday trading on Friday, reaching $15.34. The stock had a trading volume of 3,667,014 shares, compared to its average volume of 2,131,890. EnLink Midstream has a 1-year low of $11.53 and a 1-year high of $16.40. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The firm's fifty day simple moving average is $15.11 and its 200-day simple moving average is $14.09. The stock has a market capitalization of $7.01 billion, a P/E ratio of 73.02 and a beta of 2.44.
EnLink Midstream (NYSE:ENLC - Get Free Report) last posted its quarterly earnings data 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 business 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 quarter last year, the business earned $0.10 earnings per share. As a group, analysts expect that EnLink Midstream will post 0.51 EPS for the current fiscal year.
Insider Activity at EnLink Midstream
In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Merewether Investment Management LP bought a new stake in EnLink Midstream in the 3rd quarter valued at about $64,477,000. HITE Hedge Asset Management LLC increased its position in shares of EnLink Midstream by 2,629.4% in the second quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company's stock worth $27,560,000 after purchasing an additional 1,929,551 shares during the period. Brookfield Corp ON raised its position in shares of EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company's stock valued at $52,285,000 after buying an additional 1,775,203 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of EnLink Midstream by 120.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company's stock worth $30,348,000 after acquiring an additional 1,141,254 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in EnLink Midstream by 32.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company's stock valued at $48,236,000 after purchasing an additional 812,767 shares in the last quarter. Institutional investors own 45.87% of the company's stock.
About EnLink Midstream
(
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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