Mizuho Reaffirms “Neutral” Rating for EnLink Midstream (NYSE:ENLC)

EnLink Midstream (NYSE:ENLC)‘s stock had its “neutral” rating restated by equities research analysts at Mizuho in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $15.00 price target on the pipeline company’s stock. Mizuho’s price objective suggests a potential upside of 2.04% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a report on Monday, September 16th. Capital One Financial reiterated an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Performance

Shares of NYSE ENLC opened at $14.70 on Thursday. EnLink Midstream has a one year low of $11.53 and a one year high of $14.96. The business’s 50-day moving average price is $14.51 and its two-hundred day moving average price is $13.73. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $6.78 billion, a P/E ratio of 49.00 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data 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 business 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%. EnLink Midstream’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. Analysts anticipate that EnLink Midstream will post 0.58 earnings per share for the current fiscal year.

Insider Activity at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

A number of institutional investors have recently added to or reduced their stakes in ENLC. Clearbridge Investments LLC acquired a new position in shares of EnLink Midstream in the 1st quarter worth approximately $873,000. Janus Henderson Group PLC acquired a new stake in shares of EnLink Midstream in the 1st quarter valued at $1,453,000. Miller Howard Investments Inc. NY boosted its stake in shares of EnLink Midstream by 4.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company’s stock valued at $31,016,000 after purchasing an additional 93,587 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of EnLink Midstream by 22.8% during the 1st 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 in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in EnLink Midstream by 468.8% during the 2nd quarter. Mackenzie Financial Corp now owns 102,368 shares of the pipeline company’s stock valued at $1,409,000 after purchasing an additional 84,372 shares during the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

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.