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

EnLink Midstream (NYSE:ENLC - Get Free Report) was downgraded by stock analysts at US Capital Advisors from a "moderate buy" rating to a "hold" rating in a research report issued 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.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lowered shares of EnLink Midstream from a "buy" rating to a "hold" rating and set a $15.00 target price for the company. in a report on Friday, August 30th. Capital One Financial reiterated an "equal weight" rating and issued a $16.00 price objective on shares of EnLink Midstream in a report on Tuesday, September 3rd. Royal Bank of Canada restated a "sector perform" rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, November 21st. Wells Fargo & Company cut EnLink Midstream from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $16.00 to $15.00 in a research note on Friday, August 30th. Finally, StockNews.com raised shares of EnLink Midstream from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.40.

EnLink Midstream Trading Up 2.0 %

Shares of ENLC opened at $15.91 on Tuesday. The stock's fifty day simple moving average is $14.94 and its 200-day simple moving average is $13.98. The firm has a market capitalization of $7.27 billion, a PE ratio of 75.76 and a beta of 2.41. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $16.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC - Get Free Report) last released its 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). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business's revenue for the quarter was down 7.9% on a year-over-year basis. As a group, research analysts predict that EnLink Midstream will post 0.55 earnings per share for the current year.

Insider Buying and Selling at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were 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. Company insiders own 0.84% of the company's stock.

Institutional Trading of EnLink Midstream

A number of institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its position in EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company's stock worth $106,000 after buying an additional 853 shares in the last quarter. First Dallas Securities Inc. raised its holdings in EnLink Midstream by 0.6% during the second 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. Callahan Advisors LLC boosted its position in EnLink Midstream by 8.7% during the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company's stock valued at $172,000 after purchasing an additional 1,000 shares during the last quarter. Bank of New York Mellon Corp grew its stake in EnLink Midstream by 9.1% in 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 purchasing an additional 1,151 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of EnLink Midstream by 0.6% during the 3rd quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company's stock worth $3,885,000 after purchasing an additional 1,473 shares during the last quarter. Institutional investors own 45.87% of the company's stock.

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.

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