EnLink Midstream’s (ENLC) “Neutral” Rating Reiterated at Mizuho

EnLink Midstream (NYSE:ENLC)‘s stock had its “neutral” rating restated by analysts at Mizuho in a research note issued on Thursday, Benzinga reports. They presently have a $15.00 price objective on the pipeline company’s stock. Mizuho’s price objective would indicate a potential upside of 0.87% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Company cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $16.00 to $15.00 in a research report on Friday, August 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, August 29th. Capital One Financial reissued an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Performance

Shares of NYSE:ENLC traded down $0.03 during midday trading on Thursday, hitting $14.87. The company’s stock had a trading volume of 106,688 shares, compared to its average volume of 2,009,800. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50 day simple moving average is $14.44 and its 200 day simple moving average is $13.72. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 49.67 and a beta of 2.40. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $14.95.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the business earned $0.12 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, research analysts anticipate that EnLink Midstream will post 0.58 earnings per share for the current year.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the company. Catalyst Capital Advisors LLC lifted its stake in shares of 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 acquiring an additional 1,141,254 shares during the period. Van ECK Associates Corp lifted its position in EnLink Midstream by 100.8% during the 3rd quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after purchasing an additional 63,997 shares during the period. Inscription Capital LLC acquired a new position in EnLink Midstream during the 3rd quarter valued at about $154,000. Insight Folios Inc boosted its stake in shares of EnLink Midstream by 16.3% in the 3rd quarter. Insight Folios Inc now owns 25,077 shares of the pipeline company’s stock valued at $364,000 after purchasing an additional 3,510 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of EnLink Midstream by 13.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,090 shares of the pipeline company’s stock worth $233,000 after buying an additional 1,958 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

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.