Jefferies Financial Group upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a report released on Monday morning, Benzinga reports. The brokerage currently has $12.00 price target on the pipeline company’s stock, down from their previous price target of $13.00. Jefferies Financial Group also issued estimates for EnLink Midstream’s Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.39 EPS, Q1 2020 earnings at $0.14 EPS, FY2020 earnings at $0.55 EPS, FY2021 earnings at $0.56 EPS, FY2022 earnings at $0.58 EPS and FY2023 earnings at $0.60 EPS.
ENLC has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Garrett Motion from a hold rating to a sell rating in a research note on Wednesday, March 20th. Stifel Nicolaus began coverage on shares of SkyWest in a research note on Monday, April 15th. They set a buy rating and a $68.00 price objective for the company. Barclays reaffirmed a buy rating on shares of Bayerische Motoren Werke in a research note on Friday, March 22nd. Finally, ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. EnLink Midstream has a consensus rating of Hold and an average price target of $15.70.
NYSE ENLC opened at $10.30 on Monday. EnLink Midstream has a 12 month low of $8.90 and a 12 month high of $18.00. The company’s 50-day moving average is $10.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.98 and a quick ratio of 0.98.
EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. EnLink Midstream had a negative net margin of 2.62% and a negative return on equity of 0.09%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $0.06 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts expect that EnLink Midstream will post 0.26 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Tortoise Capital Advisors L.L.C. boosted its holdings in EnLink Midstream by 434.0% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 31,552,103 shares of the pipeline company’s stock worth $403,236,000 after acquiring an additional 25,643,624 shares during the period. Alps Advisors Inc. boosted its holdings in EnLink Midstream by 12,208.4% in the 1st quarter. Alps Advisors Inc. now owns 24,648,082 shares of the pipeline company’s stock worth $315,002,000 after acquiring an additional 24,447,828 shares during the period. OppenheimerFunds Inc. boosted its holdings in EnLink Midstream by 36,353.8% in the 1st quarter. OppenheimerFunds Inc. now owns 12,168,263 shares of the pipeline company’s stock worth $155,510,000 after acquiring an additional 12,134,883 shares during the period. Clearbridge Investments LLC boosted its holdings in EnLink Midstream by 21,064.4% in the 1st quarter. Clearbridge Investments LLC now owns 10,697,359 shares of the pipeline company’s stock worth $136,712,000 after acquiring an additional 10,646,815 shares during the period. Finally, Chickasaw Capital Management LLC boosted its holdings in EnLink Midstream by 54.0% in the 1st quarter. Chickasaw Capital Management LLC now owns 22,530,811 shares of the pipeline company’s stock worth $287,944,000 after acquiring an additional 7,897,745 shares during the period. Hedge funds and other institutional investors own 49.19% of the company’s stock.
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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