UBS Group Downgrades EnLink Midstream (NYSE:ENLC) to Neutral

EnLink Midstream (NYSE:ENLC) was downgraded by research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Monday, MarketBeat reports. They presently have a $16.00 target price on the pipeline company’s stock. UBS Group’s price target points to a potential upside of 9.14% from the stock’s current price.

A number of other equities analysts have also recently commented on ENLC. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a research note on Monday, September 16th. Wells Fargo & Company cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $16.00 to $15.00 in a research report on Friday, August 30th. Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Friday, August 30th. Capital One Financial reiterated an “equal weight” rating and set a $16.00 target price on shares of EnLink Midstream in a report on Tuesday, September 3rd. Finally, Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

EnLink Midstream Stock Up 1.0 %

ENLC opened at $14.66 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The business’s fifty day simple moving average is $13.73 and its 200 day simple moving average is $13.54. EnLink Midstream has a 52 week low of $11.44 and a 52 week high of $14.80. The stock has a market cap of $6.62 billion, a PE ratio of 41.89 and a beta of 2.40.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. As a group, research analysts expect that EnLink Midstream will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ENLC. Wells Fargo & Company MN increased its stake in shares of EnLink Midstream by 56.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,034,809 shares of the pipeline company’s stock worth $12,583,000 after purchasing an additional 373,969 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of EnLink Midstream by 1.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock worth $194,126,000 after buying an additional 186,801 shares during the period. Tortoise Index Solutions LLC lifted its position in shares of EnLink Midstream by 4.0% during the 4th quarter. Tortoise Index Solutions LLC now owns 468,729 shares of the pipeline company’s stock valued at $5,700,000 after buying an additional 18,046 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of EnLink Midstream by 1,614.2% during the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after acquiring an additional 1,759,500 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in EnLink Midstream by 240.5% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,500 shares of the pipeline company’s stock worth $4,530,000 after acquiring an additional 263,100 shares in the last quarter. Institutional investors own 45.87% of the company’s stock.

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.