EnLink Midstream (NYSE:ENLC) Rating Increased to Buy at Jefferies Financial Group

EnLink Midstream (NYSE:ENLC) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat.com reports. The firm currently has a $12.00 target price on the pipeline company’s stock, down from their previous target price of $13.00. Jefferies Financial Group’s target price indicates a potential upside of 14.94% from the stock’s current price. Jefferies Financial Group also issued estimates for EnLink Midstream’s Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.12 EPS and Q1 2020 earnings at $0.14 EPS.

Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Garrett Motion from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Stifel Nicolaus assumed coverage on shares of SkyWest in a research report on Monday, April 15th. They set a “buy” rating and a $68.00 price objective for the company. Barclays reissued a “buy” rating on shares of Bayerische Motoren Werke in a research note on Friday, March 22nd. Finally, ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.70.

NYSE ENLC opened at $10.44 on Monday. EnLink Midstream has a twelve month low of $8.90 and a twelve month high of $18.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $5.07 billion, a PE ratio of -149.14, a price-to-earnings-growth ratio of 9.81 and a beta of 2.01. The business’s 50 day moving average price is $10.23.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.72 billion. EnLink Midstream had a negative net margin of 2.62% and a negative return on equity of 0.09%. EnLink Midstream’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. On average, equities research analysts expect that EnLink Midstream will post 0.27 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Trust N.A. bought a new stake in EnLink Midstream during the first quarter worth about $144,000. Conning Inc. bought a new stake in EnLink Midstream during the first quarter worth about $2,099,000. Hennessy Advisors Inc. bought a new stake in EnLink Midstream during the first quarter worth about $13,717,000. Clearbridge Investments LLC grew its stake in EnLink Midstream by 21,064.4% during the first quarter. Clearbridge Investments LLC now owns 10,697,359 shares of the pipeline company’s stock worth $136,712,000 after buying an additional 10,646,815 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in EnLink Midstream during the first quarter worth about $885,000. 49.19% of the stock is currently owned by institutional investors and hedge funds.

EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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