EnLink Midstream (ENLC) Research Coverage Started at Bank of America
Stock analysts at Bank of America started coverage on shares of EnLink Midstream (NYSE:ENLC) in a report issued on Tuesday, The Fly reports. The brokerage set a “neutral” rating on the pipeline company’s stock.
Other analysts have also recently issued research reports about the company. Robert W. Baird reaffirmed a “hold” rating and issued a $21.00 price target on shares of EnLink Midstream in a research report on Thursday, September 21st. UBS Group raised EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, October 24th. BidaskClub cut EnLink Midstream from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Citigroup reduced their price target on EnLink Midstream from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. Finally, Zacks Investment Research cut EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. EnLink Midstream has a consensus rating of “Hold” and a consensus price target of $18.83.
EnLink Midstream (NYSE ENLC) opened at $18.40 on Tuesday. EnLink Midstream has a twelve month low of $15.00 and a twelve month high of $20.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3,320.00, a price-to-earnings ratio of 613.33 and a beta of 2.59.
EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. EnLink Midstream’s revenue for the quarter was up 26.6% compared to the same quarter last year. analysts expect that EnLink Midstream will post 0.3 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in EnLink Midstream by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after acquiring an additional 599 shares during the period. Linscomb & Williams Inc. bought a new position in EnLink Midstream during the third quarter valued at about $150,000. WFG Advisors LP increased its stake in EnLink Midstream by 11.5% during the second quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock valued at $162,000 after acquiring an additional 950 shares during the period. GSA Capital Partners LLP bought a new position in EnLink Midstream during the second quarter valued at about $178,000. Finally, Nationwide Fund Advisors increased its stake in EnLink Midstream by 397.6% during the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 9,599 shares during the period. Hedge funds and other institutional investors own 34.08% of the company’s stock.
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About EnLink Midstream
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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