EnLink Midstream, LLC (NYSE:ENLC) Receives Consensus Rating of “Hold” from Brokerages

Shares of EnLink Midstream, LLC (NYSE:ENLC) have earned a consensus rating of “Hold” from the thirteen analysts that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $15.40.

Several research firms have recently weighed in on ENLC. Royal Bank of Canada restated a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Mizuho reiterated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. StockNews.com began coverage on EnLink Midstream in a research report on Thursday, January 23rd. They issued a “hold” rating for the company. Finally, US Capital Advisors cut shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th.

Institutional Investors Weigh In On EnLink Midstream

Several institutional investors have recently added to or reduced their stakes in ENLC. Hsbc Holdings PLC increased its position in shares of EnLink Midstream by 64.4% in the second quarter. Hsbc Holdings PLC now owns 33,646 shares of the pipeline company’s stock valued at $459,000 after acquiring an additional 13,183 shares during the period. Sei Investments Co. purchased a new position in EnLink Midstream during the 2nd quarter valued at about $363,000. Marshall Wace LLP bought a new position in EnLink Midstream during the 2nd quarter valued at approximately $4,766,000. Millennium Management LLC lifted its holdings in EnLink Midstream by 1,433.6% in the 2nd quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock worth $6,850,000 after buying an additional 465,383 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of EnLink Midstream by 468.8% in the 2nd quarter. Mackenzie Financial Corp now owns 102,368 shares of the pipeline company’s stock worth $1,409,000 after buying an additional 84,372 shares during the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $14.15 on Thursday. The business has a 50-day simple moving average of $14.82 and a 200 day simple moving average of $14.43. EnLink Midstream has a 52 week low of $11.55 and a 52 week high of $16.40. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 67.36 and a beta of 2.43. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share 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 company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, research analysts forecast that EnLink Midstream will post 0.46 earnings per share for the current fiscal year.

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.