StockNews.com Initiates Coverage on EnLink Midstream (NYSE:ENLC)

Stock analysts at StockNews.com assumed coverage on shares of EnLink Midstream (NYSE:ENLC – Get Rating) in a report released on Thursday. The firm set a “hold” rating on the pipeline company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Raymond James reduced their price objective on shares of EnLink Midstream from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, February 16th. Citigroup upgraded shares of EnLink Midstream from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Thursday, March 9th. Finally, Morgan Stanley upped their price target on shares of EnLink Midstream from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

EnLink Midstream Stock Performance

Shares of EnLink Midstream stock opened at $10.40 on Thursday. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 14.05 and a beta of 2.56. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. EnLink Midstream has a twelve month low of $7.77 and a twelve month high of $13.58. The company’s fifty day moving average is $12.21 and its 200 day moving average is $11.50.

EnLink Midstream (NYSE:ENLC – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The pipeline company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.14. EnLink Midstream had a net margin of 3.79% and a return on equity of 12.62%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.83 billion. Sell-side analysts forecast that EnLink Midstream will post 0.72 EPS for the current year.

Insider Activity

In related news, CFO Benjamin D. Lamb sold 180,000 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $11.75, for a total value of $2,115,000.00. Following the completion of the transaction, the chief financial officer now directly owns 707,107 shares in the company, valued at approximately $8,308,507.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Benjamin D. Lamb sold 210,000 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $11.38, for a total value of $2,389,800.00. Following the completion of the transaction, the chief financial officer now owns 497,107 shares of the company’s stock, valued at approximately $5,657,077.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Benjamin D. Lamb sold 180,000 shares of the business’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $11.75, for a total transaction of $2,115,000.00. Following the completion of the sale, the chief financial officer now owns 707,107 shares in the company, valued at approximately $8,308,507.25. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Raymond James & Associates boosted its stake in EnLink Midstream by 29.4% in the first quarter. Raymond James & Associates now owns 81,453 shares of the pipeline company’s stock valued at $786,000 after acquiring an additional 18,487 shares in the last quarter. Cetera Advisor Networks LLC grew its position in EnLink Midstream by 34.0% during the first quarter. Cetera Advisor Networks LLC now owns 33,916 shares of the pipeline company’s stock valued at $327,000 after buying an additional 8,600 shares during the period. Great West Life Assurance Co. Can grew its position in EnLink Midstream by 16.2% during the first quarter. Great West Life Assurance Co. Can now owns 175,190 shares of the pipeline company’s stock valued at $1,797,000 after buying an additional 24,361 shares during the period. Dimensional Fund Advisors LP grew its position in EnLink Midstream by 7.1% during the first quarter. Dimensional Fund Advisors LP now owns 11,225,310 shares of the pipeline company’s stock valued at $108,324,000 after buying an additional 746,457 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of EnLink Midstream by 15.5% in the first quarter. Allianz Asset Management GmbH now owns 1,723,580 shares of the pipeline company’s stock valued at $16,633,000 after purchasing an additional 231,880 shares during the period. 44.37% of the stock is owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

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EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The Permian segment includes natural gas gathering, processing, and transmission activities and crude oil operations in the Midland and Delaware Basins in West Texas and Eastern New Mexico and crude operations in South Texas.