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

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

Several other analysts have also recently commented on ENLC. Capital One Financial started coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective for the company. Citigroup lifted their price objective on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, EnLink Midstream currently has an average rating of “Moderate Buy” and an average target price of $14.33.

EnLink Midstream Stock Down 0.1 %

Shares of EnLink Midstream stock traded down $0.02 on Tuesday, reaching $13.84. The stock had a trading volume of 1,097,101 shares, compared to its average volume of 1,910,743. The company has a 50 day moving average price of $13.25 and a 200 day moving average price of $12.85. 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 1 year low of $10.59 and a 1 year high of $14.18. The stock has a market capitalization of $6.25 billion, a P/E ratio of 39.54 and a beta of 2.43.

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

Hedge Funds Weigh In On EnLink Midstream

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBW Capital LLC increased its position in EnLink Midstream by 5.7% during the first quarter. NBW Capital LLC now owns 1,098,404 shares of the pipeline company’s stock worth $14,982,000 after purchasing an additional 59,122 shares during the last quarter. Westwood Holdings Group Inc. increased its position in EnLink Midstream by 22.8% during the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock worth $30,629,000 after purchasing an additional 416,424 shares during the last quarter. Cetera Advisors LLC increased its position in EnLink Midstream by 14.9% during the first quarter. Cetera Advisors LLC now owns 15,589 shares of the pipeline company’s stock worth $213,000 after purchasing an additional 2,025 shares during the last quarter. Cetera Investment Advisers acquired a new stake in EnLink Midstream during the first quarter worth about $1,799,000. Finally, Comerica Bank increased its position in EnLink Midstream by 16.2% during the first quarter. Comerica Bank now owns 14,793 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 2,063 shares during the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

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.