EnLink Midstream (NYSE:ENLC) Rating Increased to Buy at StockNews.com

EnLink Midstream (NYSE:ENLC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

ENLC has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price target on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. UBS Group lifted their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Citigroup lifted their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Capital One Financial initiated coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.63.

EnLink Midstream Trading Up 0.8 %

Shares of ENLC stock opened at $13.59 on Friday. EnLink Midstream has a 12-month low of $8.45 and a 12-month high of $14.18. The company has a market capitalization of $6.16 billion, a P/E ratio of 30.89 and a beta of 2.39. The firm has a 50-day moving average price of $12.97 and a 200 day moving average price of $12.62. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Research analysts forecast that EnLink Midstream will post 0.6 earnings per share for the current fiscal year.

Insider Activity at EnLink Midstream

In related news, CAO Jan Philipp Rossbach sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the transaction, the chief accounting officer now owns 58,410 shares in the company, valued at $719,611.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total value of $616,000.00. Following the completion of the transaction, the chief accounting officer now owns 58,410 shares in the company, valued at $719,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the transaction, the chief financial officer now owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ENLC. Alps Advisors Inc. boosted its holdings in EnLink Midstream by 11.0% during the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after purchasing an additional 4,200,733 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in EnLink Midstream during the third quarter worth $3,246,000. UBS Group AG boosted its holdings in EnLink Midstream by 22.9% during the third quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock worth $18,848,000 after purchasing an additional 287,400 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in EnLink Midstream during the third quarter worth $1,337,000. Finally, Strategic Blueprint LLC acquired a new position in EnLink Midstream during the fourth quarter worth $126,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It 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.