Research analysts at StockNews.com assumed coverage on shares of EnLink Midstream (NYSE:ENLC – Get Free Report) in a research report issued on Friday. The firm set a “hold” rating on the pipeline company’s stock.
Several other research analysts have also recently issued reports on the company. US Capital Advisors cut EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Mizuho reissued a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, October 31st. Raymond James downgraded shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.40.
Read Our Latest Report on EnLink Midstream
EnLink Midstream Trading Up 2.9 %
EnLink Midstream (NYSE:ENLC – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the firm posted $0.10 EPS. The business’s quarterly revenue was down 7.9% on a year-over-year basis. Sell-side analysts anticipate that EnLink Midstream will post 0.46 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Merewether Investment Management LP acquired a new position in shares of EnLink Midstream in the 3rd quarter worth $64,477,000. Brookfield Corp ON boosted its position in shares of EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after purchasing an additional 1,775,203 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in EnLink Midstream by 32.4% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock worth $48,236,000 after purchasing an additional 812,767 shares in the last quarter. Miller Howard Investments Inc. NY raised its holdings in EnLink Midstream by 1.4% during the 4th quarter. Miller Howard Investments Inc. NY now owns 2,320,292 shares of the pipeline company’s stock worth $32,832,000 after buying an additional 33,025 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its stake in EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after buying an additional 1,141,254 shares in the last quarter. Institutional investors and hedge funds 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.
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