EnLink Midstream (NYSE:ENLC) Lifted to Hold at ValuEngine

EnLink Midstream (NYSE:ENLC) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

Other equities analysts have also issued reports about the company. Barclays reaffirmed a “hold” rating and set a $12.00 target price on shares of EnLink Midstream in a research report on Thursday, July 18th. Mizuho began coverage on EnLink Midstream in a research report on Thursday, July 25th. They set a “neutral” rating and a $11.50 target price on the stock. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research report on Monday, April 15th. Finally, Jefferies Financial Group raised EnLink Midstream from a “hold” rating to a “buy” rating and lowered their target price for the stock from $13.00 to $12.00 in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.14.

Shares of NYSE:ENLC traded down $0.32 during trading on Thursday, reaching $9.28. 2,796,956 shares of the stock were exchanged, compared to its average volume of 2,593,542. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.98 and a current ratio of 0.98. EnLink Midstream has a 1-year low of $8.90 and a 1-year high of $18.00. The stock has a fifty day moving average price of $10.08. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -132.57, a price-to-earnings-growth ratio of 8.97 and a beta of 2.00.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, April 30th. The pipeline company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. EnLink Midstream had a negative return on equity of 0.09% and a negative net margin of 2.62%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. EnLink Midstream’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts anticipate that EnLink Midstream will post 0.27 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avestar Capital LLC purchased a new stake in EnLink Midstream in the 1st quarter valued at $28,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in EnLink Midstream in the 1st quarter valued at $31,000. Arlington Partners LLC purchased a new stake in EnLink Midstream in the 2nd quarter valued at $30,000. Triangle Securities Wealth Management purchased a new stake in EnLink Midstream in the 1st quarter valued at $362,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in EnLink Midstream in the 1st quarter valued at $44,000. 48.95% of the stock is owned by institutional investors and hedge funds.

About EnLink Midstream

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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