EnLink Midstream (NYSE:ENLC) Rating Lowered to Hold at StockNews.com

EnLink Midstream (NYSE:ENLC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities analysts also recently commented on the company. Capital One Financial started coverage on EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Citigroup lifted their target price on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, UBS Group raised their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.33.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $13.65 on Wednesday. The company has a fifty day simple moving average of $13.32 and a 200-day simple moving average of $12.72. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 39.00 and a beta of 2.39. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. EnLink Midstream has a 52-week low of $8.56 and a 52-week high of $14.18.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. On average, equities analysts anticipate that EnLink Midstream will post 0.59 EPS for the current fiscal year.

Insider Activity at EnLink Midstream

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

Institutional Trading of EnLink Midstream

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in EnLink Midstream during the 1st quarter worth $105,000. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its holdings in shares of EnLink Midstream by 10.8% in the 1st quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 32,700 shares of the pipeline company’s stock valued at $446,000 after purchasing an additional 3,200 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of EnLink Midstream in the 1st quarter valued at about $235,000. Lindbrook Capital LLC grew its stake in EnLink Midstream by 7.3% during the 1st quarter. Lindbrook Capital LLC now owns 41,702 shares of the pipeline company’s stock worth $569,000 after buying an additional 2,831 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its position in EnLink Midstream by 1.9% during the first quarter. Maryland State Retirement & Pension System now owns 202,971 shares of the pipeline company’s stock worth $2,732,000 after buying an additional 3,842 shares during the period. Hedge funds and other institutional investors own 45.87% of the company’s stock.

EnLink Midstream Company Profile

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.