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

Analysts at StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC - Get Free Report) in a note issued to investors on Tuesday. The firm set a "hold" rating on the pipeline company's stock.

Several other research analysts have also commented on the company. Mizuho reissued a "neutral" rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Raymond James lowered EnLink Midstream from an "outperform" rating to a "market perform" rating in a research report on Friday, November 8th. Royal Bank of Canada reissued a "sector perform" rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Morgan Stanley lowered EnLink Midstream from an "overweight" rating to an "equal weight" rating and set a $16.00 price objective on the stock. in a research report on Monday, September 16th. Finally, US Capital Advisors lowered EnLink Midstream from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, EnLink Midstream has an average rating of "Hold" and a consensus price target of $15.40.

EnLink Midstream Trading Up 0.1 %

Shares of ENLC stock traded up $0.02 during mid-day trading on Tuesday, hitting $14.31. 1,402,324 shares of the company's stock were exchanged, compared to its average volume of 1,285,791. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $16.40. The stock has a 50-day simple moving average of $14.96 and a two-hundred day simple moving average of $14.31. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 68.14 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company's quarterly revenue was down 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. Equities analysts expect that EnLink Midstream will post 0.51 EPS for the current fiscal 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On EnLink Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in EnLink Midstream by 100.8% in the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company's stock valued at $1,883,000 after acquiring an additional 63,997 shares during the period. Westwood Holdings Group Inc. boosted its stake in EnLink Midstream by 4.7% in the second quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company's stock valued at $32,363,000 after acquiring an additional 106,467 shares during the period. Walleye Capital LLC boosted its stake in EnLink Midstream by 1,829.6% in the third quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company's stock valued at $4,095,000 after acquiring an additional 267,619 shares during the period. Wellington Management Group LLP boosted its stake in EnLink Midstream by 268.0% in the third quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company's stock valued at $5,834,000 after acquiring an additional 292,833 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its stake in EnLink Midstream by 120.1% in the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company's stock valued at $30,348,000 after acquiring an additional 1,141,254 shares during the period. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.