EnLink Midstream (NYSE:ENLC) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of EnLink Midstream (NYSE:ENLC - Get Free Report) in a research report issued to clients and investors on Monday. The brokerage set a "hold" rating on the pipeline company's stock.

Other research analysts have also recently issued research reports about the company. Mizuho reaffirmed a "neutral" rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, October 31st. 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. Raymond James lowered shares of EnLink Midstream from an "outperform" rating to a "market perform" rating in a research report on Friday, November 8th. Morgan Stanley cut EnLink Midstream from an "overweight" rating to an "equal weight" rating and set a $16.00 price target on the stock. in a report on Monday, September 16th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, November 21st. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $15.40.

EnLink Midstream Stock Performance

Shares of ENLC traded down $0.03 during trading hours on Monday, reaching $14.20. 2,958,313 shares of the company's stock traded hands, compared to its average volume of 2,168,913. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $16.40. The business's fifty day simple moving average is $15.01 and its two-hundred day simple moving average is $14.26. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 67.62 and a beta of 2.44.

EnLink Midstream (NYSE:ENLC - Get Free Report) last released its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). The company had revenue of $1.61 billion for 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%. The firm's quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. Analysts predict that EnLink Midstream will post 0.51 earnings per share for the current year.

Insider Activity

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business's stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EnLink Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in ENLC. Bank of New York Mellon Corp increased its stake in shares of EnLink Midstream by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company's stock worth $191,000 after purchasing an additional 1,151 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in EnLink Midstream by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,703 shares of the pipeline company's stock valued at $766,000 after buying an additional 2,213 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of EnLink Midstream by 73.8% in the second quarter. Van ECK Associates Corp now owns 63,465 shares of the pipeline company's stock worth $873,000 after buying an additional 26,952 shares during the last quarter. First Dallas Securities Inc. boosted its stake in shares of EnLink Midstream by 0.6% during the 2nd quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company's stock worth $2,182,000 after acquiring an additional 960 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of 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 acquiring an additional 10,296 shares during the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

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.