Royal Bank of Canada Reaffirms “Hold” Rating for EnLink Midstream (ENLC)

EnLink Midstream (NYSE:ENLC)‘s stock had its “hold” rating restated by equities researchers at Royal Bank of Canada in a research note issued on Tuesday. They presently have a $20.00 target price on the pipeline company’s stock. Royal Bank of Canada’s price target points to a potential upside of 6.67% from the company’s previous close.

ENLC has been the topic of several other research reports. Robert W. Baird reiterated a “hold” rating and set a $21.00 price objective on shares of EnLink Midstream in a research note on Thursday, September 21st. BidaskClub lowered shares of EnLink Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. Seaport Global Securities began coverage on shares of EnLink Midstream in a research note on Tuesday, October 10th. They set a “neutral” rating and a $16.00 price objective on the stock. Zacks Investment Research upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, October 17th. Finally, UBS Group upgraded shares of EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.83.

Shares of EnLink Midstream (NYSE:ENLC) traded down $0.15 during trading on Tuesday, hitting $18.75. 420,600 shares of the stock were exchanged, compared to its average volume of 302,944. The firm has a market cap of $3,390.00, a price-to-earnings ratio of 625.00 and a beta of 2.59. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. EnLink Midstream has a 1-year low of $15.00 and a 1-year high of $20.45.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. The business’s revenue was up 26.6% on a year-over-year basis. equities analysts expect that EnLink Midstream will post 0.3 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in EnLink Midstream by 11.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock worth $100,000 after purchasing an additional 599 shares during the last quarter. Linscomb & Williams Inc. bought a new position in EnLink Midstream in the 3rd quarter worth about $150,000. WFG Advisors LP grew its position in EnLink Midstream by 11.5% in the 2nd quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock worth $162,000 after purchasing an additional 950 shares during the last quarter. GSA Capital Partners LLP bought a new position in EnLink Midstream in the 2nd quarter worth about $178,000. Finally, Nationwide Fund Advisors grew its position in EnLink Midstream by 397.6% in the 3rd quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 9,599 shares during the last quarter. Hedge funds and other institutional investors own 34.34% of the company’s stock.

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About EnLink Midstream

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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