EnLink Midstream (NYSE:ENLC) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

ENLC has been the subject of a number of other research reports. B. Riley set a $18.00 target price on shares of EnLink Midstream and gave the stock a “hold” rating in a research report on Monday, June 4th. Barclays upped their target price on shares of EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, August 29th. Bank of America upped their target price on shares of EnLink Midstream from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 5th. Raymond James restated a “buy” rating and set a $19.00 target price on shares of EnLink Midstream in a research report on Friday, August 17th. Finally, Robert W. Baird restated a “hold” rating and set a $18.00 target price on shares of EnLink Midstream in a research report on Monday, August 6th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.86.

Shares of NYSE:ENLC traded down $0.35 during midday trading on Monday, reaching $16.30. 643,600 shares of the company were exchanged, compared to its average volume of 487,571. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.68. EnLink Midstream has a one year low of $13.80 and a one year high of $20.00. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -326.00 and a beta of 2.63.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, July 31st. The pipeline company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.05). EnLink Midstream had a return on equity of 0.86% and a net margin of 3.73%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the company posted $0.15 EPS. EnLink Midstream’s revenue was up 39.7% compared to the same quarter last year. research analysts predict that EnLink Midstream will post 0.45 earnings per share for the current year.

In other EnLink Midstream news, EVP Alaina K. Brooks sold 48,442 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $17.36, for a total transaction of $840,953.12. Following the completion of the transaction, the executive vice president now owns 78,190 shares in the company, valued at $1,357,378.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.24% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of EnLink Midstream by 28.8% in the first quarter. Principal Financial Group Inc. now owns 2,967,940 shares of the pipeline company’s stock valued at $43,481,000 after acquiring an additional 662,795 shares during the period. Alps Advisors Inc. raised its stake in shares of EnLink Midstream by 15.4% in the second quarter. Alps Advisors Inc. now owns 64,560 shares of the pipeline company’s stock valued at $1,136,000 after acquiring an additional 8,614 shares during the period. Linscomb & Williams Inc. purchased a new stake in shares of EnLink Midstream in the second quarter valued at $171,000. Nwam LLC purchased a new stake in shares of EnLink Midstream in the second quarter valued at $481,000. Finally, Catalyst Capital Advisors LLC raised its stake in shares of EnLink Midstream by 8.6% in the second quarter. Catalyst Capital Advisors LLC now owns 525,438 shares of the pipeline company’s stock valued at $8,643,000 after acquiring an additional 41,600 shares during the period. 32.40% 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 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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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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