EnLink Midstream (NYSE:ENLC) Stock Rating Upgraded by StockNews.com

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

Several other research firms also recently weighed in on ENLC. Wells Fargo & Company raised EnLink Midstream from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $13.00 to $17.00 in a research report on Monday, July 8th. JPMorgan Chase & Co. boosted their target price on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Citigroup boosted their target price on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.33.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $12.35 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. EnLink Midstream has a 1 year low of $11.44 and a 1 year high of $14.38. The stock’s 50 day simple moving average is $13.39 and its two-hundred day simple moving average is $13.11. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 35.27 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. As a group, equities analysts anticipate that EnLink Midstream will post 0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EnLink Midstream

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of EnLink Midstream in the 4th quarter worth $27,000. ORG Partners LLC purchased a new stake in shares of EnLink Midstream in the 2nd quarter worth $28,000. JNBA Financial Advisors purchased a new stake in shares of EnLink Midstream in the 4th quarter worth $30,000. Sunbelt Securities Inc. lifted its holdings in shares of EnLink Midstream by 24.2% in the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after buying an additional 1,343 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of EnLink Midstream in the 1st quarter worth $105,000. 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.