EnLink Midstream (NYSE:ENLC) Reaches New 1-Year High After Analyst Upgrade

EnLink Midstream, LLC (NYSE:ENLCGet Rating)’s share price hit a new 52-week high during mid-day trading on Tuesday after Credit Suisse Group raised their price target on the stock from $6.50 to $9.00. Credit Suisse Group currently has an underperform rating on the stock. EnLink Midstream traded as high as $10.49 and last traded at $10.44, with a volume of 104280 shares traded. The stock had previously closed at $10.10.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. StockNews.com cut EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James upped their price target on EnLink Midstream from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, February 17th. Mizuho upped their price target on EnLink Midstream from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, February 17th. Finally, Morgan Stanley raised EnLink Midstream from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $7.00 to $9.00 in a research report on Friday, January 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, EnLink Midstream has an average rating of “Hold” and a consensus target price of $8.22.

In related news, Director Kyle D. Vann sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $8.26, for a total transaction of $82,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.84% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its stake in EnLink Midstream by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 43,392,248 shares of the pipeline company’s stock worth $298,973,000 after acquiring an additional 1,606,488 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in EnLink Midstream by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,478,853 shares of the pipeline company’s stock worth $72,196,000 after acquiring an additional 219,618 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in EnLink Midstream by 1,550.8% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 6,022,564 shares of the pipeline company’s stock worth $41,074,000 after acquiring an additional 5,657,735 shares during the last quarter. Morgan Stanley increased its stake in EnLink Midstream by 5.0% in the 3rd quarter. Morgan Stanley now owns 5,183,788 shares of the pipeline company’s stock worth $35,354,000 after acquiring an additional 244,927 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in EnLink Midstream by 353.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,998,286 shares of the pipeline company’s stock worth $20,658,000 after acquiring an additional 2,337,105 shares during the last quarter. Institutional investors own 39.65% of the company’s stock.

The firm has a market capitalization of $5.09 billion, a P/E ratio of 252.56 and a beta of 2.99. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50 day simple moving average of $9.23 and a two-hundred day simple moving average of $8.03.

EnLink Midstream (NYSE:ENLCGet Rating) last announced its quarterly earnings data on Tuesday, February 15th. The pipeline company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $1.88 billion. EnLink Midstream had a return on equity of 0.73% and a net margin of 0.34%. During the same period in the prior year, the company earned $0.03 EPS. On average, equities analysts anticipate that EnLink Midstream, LLC will post 0.14 earnings per share for the current fiscal year.

About EnLink Midstream (NYSE:ENLC)

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.

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