EnLink Midstream (NYSE:ENLC) Upgraded to “Buy” by StockNews.com

EnLink Midstream (NYSE:ENLC) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other brokerages have also recently commented on ENLC. Citigroup boosted their price objective on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Capital One Financial initiated coverage on EnLink Midstream in a report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price target on the stock. Finally, UBS Group boosted their price objective on EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.63.

EnLink Midstream Price Performance

Shares of NYSE:ENLC opened at $13.48 on Friday. The firm has a market capitalization of $6.11 billion, a PE ratio of 30.64 and a beta of 2.39. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70. The company has a 50-day moving average price of $12.94 and a two-hundred day moving average price of $12.60. EnLink Midstream has a twelve month low of $8.45 and a twelve month high of $14.18.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Equities analysts forecast that EnLink Midstream will post 0.6 EPS for the current year.

Insider Buying and Selling at EnLink Midstream

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the sale, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Benjamin D. Lamb sold 250,552 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the sale, the chief financial officer now owns 534,000 shares of the company’s stock, valued at $6,450,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the sale, the chief accounting officer now owns 58,410 shares in the company, valued at approximately $719,611.20. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in EnLink Midstream in the fourth quarter worth $27,000. National Bank of Canada FI bought a new position in shares of EnLink Midstream in the 3rd quarter worth about $28,000. JNBA Financial Advisors purchased a new position in EnLink Midstream during the 4th quarter valued at about $30,000. Sunbelt Securities Inc. boosted its stake in EnLink Midstream by 232.4% during the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after acquiring an additional 3,837 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in EnLink Midstream by 198.8% in the fourth quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock worth $72,000 after purchasing an additional 3,965 shares during the period. Hedge funds and other institutional investors own 45.87% of the company’s stock.

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.