EnLink Midstream (NYSE:ENLC) had its target price cut by analysts at Royal Bank of Canada from $20.00 to $18.00 in a report issued on Thursday. The firm presently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 40.24% from the company’s current price.
A number of other research analysts also recently weighed in on ENLC. ValuEngine downgraded EnLink Midstream from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 18th. Robert W. Baird reaffirmed a “hold” rating and issued a $18.00 price objective on shares of EnLink Midstream in a research note on Monday, August 6th. Raymond James reaffirmed a “buy” rating and issued a $19.00 price objective on shares of EnLink Midstream in a research note on Friday, August 17th. Barclays raised their price objective on EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research downgraded EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. EnLink Midstream presently has a consensus rating of “Hold” and an average target price of $17.54.
ENLC stock traded up $0.34 during trading on Thursday, reaching $12.84. The stock had a trading volume of 428,173 shares, compared to its average volume of 981,839. EnLink Midstream has a 52 week low of $12.11 and a 52 week high of $20.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -256.70 and a beta of 2.33.
EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, November 6th. The pipeline company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). EnLink Midstream had a net margin of 3.73% and a return on equity of 0.86%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. Equities analysts predict that EnLink Midstream will post 0.32 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in shares of EnLink Midstream during the second quarter worth about $102,000. Russell Investments Group Ltd. grew its position in shares of EnLink Midstream by 110.1% during the first quarter. Russell Investments Group Ltd. now owns 7,934 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 4,157 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of EnLink Midstream by 365.0% during the first quarter. Cubist Systematic Strategies LLC now owns 8,161 shares of the pipeline company’s stock worth $120,000 after purchasing an additional 6,406 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in shares of EnLink Midstream during the third quarter worth about $134,000. Finally, Linscomb & Williams Inc. purchased a new stake in shares of EnLink Midstream during the second quarter worth about $171,000. 32.13% of the stock is currently owned by hedge funds and other institutional investors.
About EnLink Midstream
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.
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