EnLink Midstream (NYSE:ENLC) Price Target Raised to $16.00

EnLink Midstream (NYSE:ENLCGet Rating) had its price objective increased by Raymond James from $14.00 to $16.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Raymond James’ target price indicates a potential upside of 23.36% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus began coverage on EnLink Midstream in a report on Tuesday, September 27th. They issued a “buy” rating and a $12.50 target price for the company. Royal Bank of Canada lifted their price objective on shares of EnLink Midstream from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 3rd. StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, December 29th. Citigroup began coverage on shares of EnLink Midstream in a research note on Thursday, December 8th. They set a “neutral” rating and a $13.00 price target for the company. Finally, Morgan Stanley increased their price objective on shares of EnLink Midstream from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, EnLink Midstream has an average rating of “Hold” and a consensus price target of $13.64.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $12.97 on Monday. EnLink Midstream has a 52-week low of $7.15 and a 52-week high of $13.58. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.58. The firm’s fifty day moving average is $12.34 and its 200 day moving average is $10.89. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 24.94 and a beta of 2.60.

EnLink Midstream (NYSE:ENLCGet Rating) last posted its earnings results on Tuesday, November 1st. The pipeline company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. EnLink Midstream had a net margin of 2.63% and a return on equity of 8.93%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.06 billion. Sell-side analysts forecast that EnLink Midstream will post 0.61 EPS for the current fiscal year.

Insider Transactions at EnLink Midstream

In related news, Director Kyle D. Vann sold 13,500 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $12.16, for a total value of $164,160.00. Following the completion of the sale, the director now owns 171,631 shares in the company, valued at $2,087,032.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

Institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC increased its position in EnLink Midstream by 179.8% during the 3rd quarter. Jennison Associates LLC now owns 4,477,283 shares of the pipeline company’s stock valued at $39,803,000 after purchasing an additional 2,877,340 shares during the period. Goldman Sachs Group Inc. lifted its holdings in EnLink Midstream by 63.8% during the second quarter. Goldman Sachs Group Inc. now owns 6,928,608 shares of the pipeline company’s stock worth $58,893,000 after buying an additional 2,697,480 shares during the period. SIR Capital Management L.P. purchased a new stake in EnLink Midstream during the third quarter worth $14,692,000. Energy Income Partners LLC purchased a new position in shares of EnLink Midstream in the 3rd quarter valued at $11,328,000. Finally, Blackstone Inc. raised its position in shares of EnLink Midstream by 73.4% in the 3rd quarter. Blackstone Inc. now owns 2,723,100 shares of the pipeline company’s stock worth $24,208,000 after acquiring an additional 1,152,872 shares in the last quarter. 44.37% of the stock is currently owned by institutional investors.

EnLink Midstream Company Profile

(Get Rating)

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate 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 stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.

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