EnLink Midstream (NYSE:ENLC) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of EnLink Midstream (NYSE:ENLC) from an equal weight rating to an overweight rating in a research report released on Monday, Marketbeat.com reports. They currently have $17.00 price target on the pipeline company’s stock, up from their prior price target of $13.00.

Other equities research analysts have also issued research reports about the stock. Capital One Financial assumed 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. Citigroup upped their price objective on EnLink Midstream from $13.00 to $16.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, StockNews.com downgraded EnLink Midstream from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, EnLink Midstream presently has an average rating of Moderate Buy and a consensus target price of $15.33.

EnLink Midstream Stock Up 0.2 %

ENLC stock opened at $13.70 on Monday. EnLink Midstream has a 1-year low of $10.91 and a 1-year high of $14.18. The business has a fifty day moving average price of $13.28 and a 200-day moving average price of $12.91. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $6.18 billion, a P/E ratio of 39.14 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. Equities analysts forecast that EnLink Midstream will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EnLink Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in shares of EnLink Midstream in the fourth quarter valued at $27,000. JNBA Financial Advisors purchased a new position in EnLink Midstream in the fourth quarter worth about $30,000. Sunbelt Securities Inc. increased its stake in EnLink Midstream by 232.4% during the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after acquiring an additional 3,837 shares during the last quarter. UMB Bank n.a. raised its position in EnLink Midstream by 198.8% during the fourth quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock valued at $72,000 after purchasing an additional 3,965 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of EnLink Midstream in the 1st quarter valued at approximately $105,000. 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.