EnLink Midstream (NYSE:ENLC) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of EnLink Midstream (NYSE:ENLC - Free Report) in a report published on Thursday morning. The firm issued a hold rating on the pipeline company's stock.

Several other brokerages also recently issued reports on ENLC. US Capital Advisors downgraded EnLink Midstream from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated a "sector perform" rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Raymond James cut shares of EnLink Midstream from an "outperform" rating to a "market perform" rating in a research note on Friday, November 8th. Mizuho reaffirmed a "neutral" rating and issued a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, UBS Group downgraded EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 target price for the company. in a research report on Monday, September 30th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $15.40.

EnLink Midstream Price Performance

EnLink Midstream stock traded down $0.17 during midday trading on Thursday, reaching $14.79. The company's stock had a trading volume of 4,244,947 shares, compared to its average volume of 2,798,089. The firm has a market capitalization of $6.76 billion, a PE ratio of 70.41 and a beta of 2.43. EnLink Midstream has a fifty-two week low of $11.55 and a fifty-two week high of $16.40. The stock's 50 day simple moving average is $14.90 and its 200 day simple moving average is $14.41. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42.

EnLink Midstream (NYSE:ENLC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the prior year, the firm posted $0.10 EPS. The firm's quarterly revenue was down 7.9% on a year-over-year basis. On average, equities research analysts forecast that EnLink Midstream will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On EnLink Midstream

A number of hedge funds have recently added to or reduced their stakes in ENLC. Bank of New York Mellon Corp increased its holdings in shares of EnLink Midstream by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company's stock worth $191,000 after acquiring an additional 1,151 shares during the period. Hsbc Holdings PLC grew 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 worth $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 bought a new stake in shares of EnLink Midstream during the second quarter valued at approximately $4,766,000. 45.87% of the stock is currently owned by 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.