Royal Bank of Canada Reaffirms “Sector Perform” Rating for EnLink Midstream (NYSE:ENLC)

EnLink Midstream (NYSE:ENLC)‘s stock had its “sector perform” rating restated by analysts at Royal Bank of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $15.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s target price points to a potential downside of 4.73% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Mizuho reaffirmed a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, August 16th. Finally, Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a research note on Monday, September 16th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, EnLink Midstream currently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Trading Up 0.5 %

EnLink Midstream stock opened at $15.75 on Thursday. EnLink Midstream has a 52 week low of $11.53 and a 52 week high of $15.85. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 74.98 and a beta of 2.41. The company has a 50 day moving average price of $14.89 and a 200 day moving average price of $13.94.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the business earned $0.10 EPS. The business’s quarterly revenue was down 7.9% on a year-over-year basis. Research analysts forecast that EnLink Midstream will post 0.55 EPS for the current 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 shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On EnLink Midstream

A number of hedge funds have recently bought and sold shares of ENLC. ORG Partners LLC bought a new position in shares of EnLink Midstream in the second quarter worth about $28,000. Newbridge Financial Services Group Inc. acquired a new stake in EnLink Midstream in the 2nd quarter valued at approximately $56,000. SG Americas Securities LLC acquired a new position in shares of EnLink Midstream during the first quarter worth approximately $105,000. First Horizon Advisors Inc. lifted its holdings in shares of EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after buying an additional 853 shares during the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in shares of EnLink Midstream in the third quarter valued at approximately $107,000. 45.87% of the stock is currently owned by institutional investors.

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.