EnLink Midstream (NYSE:ENLC)‘s stock had its “buy” rating restated by investment analysts at Raymond James in a report released on Friday. They presently have a $19.00 target price on the pipeline company’s stock. Raymond James’ price target indicates a potential upside of 9.51% from the company’s previous close.
Several other research analysts have also commented on ENLC. ValuEngine raised EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price target on shares of EnLink Midstream in a research report on Monday, August 6th. Royal Bank of Canada raised EnLink Midstream from a “sector perform” rating to an “outperform” rating and cut their price target for the stock from $22.00 to $20.00 in a research report on Thursday, May 3rd. Bank of America lifted their price target on EnLink Midstream from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 5th. Finally, B. Riley set a $18.00 price target on EnLink Midstream and gave the stock a “hold” rating in a research report on Monday, June 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. EnLink Midstream has a consensus rating of “Hold” and an average price target of $17.64.
Shares of NYSE ENLC opened at $17.35 on Friday. The stock has a market cap of $3.14 billion, a PE ratio of -347.00 and a beta of 2.59. EnLink Midstream has a fifty-two week low of $13.80 and a fifty-two week high of $20.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66.
EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Tuesday, July 31st. The pipeline company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.05). The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.61 billion. EnLink Midstream had a return on equity of 0.86% and a net margin of 3.73%. The company’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period last year, the firm earned $0.15 EPS. equities analysts forecast that EnLink Midstream will post 0.45 EPS for the current year.
In other news, EVP Alaina K. Brooks sold 48,442 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $17.36, for a total value of $840,953.12. Following the transaction, the executive vice president now owns 78,190 shares of the company’s stock, valued at $1,357,378.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.24% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ENLC. BlackRock Inc. increased its holdings in shares of EnLink Midstream by 29.3% in the fourth quarter. BlackRock Inc. now owns 382,276 shares of the pipeline company’s stock valued at $6,728,000 after purchasing an additional 86,738 shares during the period. Two Sigma Advisers LP acquired a new position in shares of EnLink Midstream in the fourth quarter valued at approximately $383,000. Wells Fargo & Company MN increased its holdings in shares of EnLink Midstream by 4.9% in the first quarter. Wells Fargo & Company MN now owns 80,712 shares of the pipeline company’s stock valued at $1,182,000 after purchasing an additional 3,748 shares during the period. Stephens Inc. AR boosted its stake in shares of EnLink Midstream by 28.2% in the first quarter. Stephens Inc. AR now owns 23,197 shares of the pipeline company’s stock valued at $340,000 after buying an additional 5,100 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of EnLink Midstream by 88.9% in the first quarter. Kayne Anderson Capital Advisors LP now owns 491,200 shares of the pipeline company’s stock valued at $7,195,000 after buying an additional 231,100 shares in the last quarter. 33.98% of the stock is currently 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 five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.
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