JPMorgan Chase & Co. Increases EnLink Midstream (NYSE:ENLC) Price Target to $15.00

EnLink Midstream (NYSE:ENLC) had its price objective lifted by JPMorgan Chase & Co. from $14.00 to $15.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the pipeline company’s stock.

Other research analysts have also issued reports about the company. Citigroup boosted their price target on EnLink Midstream from $13.00 to $16.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Capital One Financial started coverage on EnLink Midstream in a research report on Friday, March 22nd. They issued an overweight rating and a $15.00 price target for the company. StockNews.com raised EnLink Midstream from a hold rating to a buy rating in a research report on Wednesday. Finally, Wells Fargo & Company upgraded EnLink Midstream from an equal weight rating to an overweight rating and boosted their price target for the company from $13.00 to $17.00 in a research note on Monday, July 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $15.33.

EnLink Midstream Trading Up 1.5 %

Shares of NYSE ENLC opened at $13.90 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. The business has a fifty day simple moving average of $13.31 and a two-hundred day simple moving average of $12.92. The firm has a market cap of $6.27 billion, a PE ratio of 39.72 and a beta of 2.43. EnLink Midstream has a twelve month low of $10.91 and a twelve month high of $14.18.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. Analysts expect 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 have recently bought and sold shares of the business. Sunbelt Securities Inc. boosted its position in EnLink Midstream by 24.2% during the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,343 shares in the last quarter. Cetera Advisors LLC boosted 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 in the last quarter. Comerica Bank boosted 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 in the last quarter. Headlands Technologies LLC purchased a new position in EnLink Midstream during the fourth quarter worth approximately $27,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in EnLink Midstream by 15.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,461 shares of the pipeline company’s stock worth $200,000 after purchasing an additional 2,217 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

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.