EnLink Midstream (NYSE:ENLC) Cut to “Neutral” at UBS Group

UBS Group cut shares of EnLink Midstream (NYSE:ENLC) from a buy rating to a neutral rating in a report published on Tuesday morning, BenzingaRatingsTable reports. They currently have $7.00 price objective on the pipeline company’s stock, down from their prior price objective of $10.00.

Other research analysts have also issued reports about the stock. Jefferies Financial Group raised shares of EnLink Midstream from a hold rating to a buy rating and decreased their price target for the company from $13.00 to $12.00 in a report on Monday, July 15th. Barclays reaffirmed a hold rating and issued a $12.00 price target on shares of EnLink Midstream in a report on Thursday, July 18th. ValuEngine raised shares of EnLink Midstream from a sell rating to a hold rating in a report on Thursday, August 1st. Mitsubishi UFJ Financial Group lowered shares of EnLink Midstream from an overweight rating to a neutral rating and decreased their price target for the company from $15.00 to $10.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $12.00 price target on shares of EnLink Midstream in a report on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $10.95.

NYSE ENLC opened at $7.53 on Tuesday. EnLink Midstream has a one year low of $7.03 and a one year high of $16.57. The company has a 50-day simple moving average of $8.01 and a 200-day simple moving average of $9.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $3.62 billion, a PE ratio of -107.57, a price-to-earnings-growth ratio of 5.86 and a beta of 2.05.



EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). EnLink Midstream had a negative net margin of 3.21% and a negative return on equity of 0.16%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts forecast that EnLink Midstream will post 0.32 earnings per share for the current year.

In other news, Director Kyle D. Vann acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $7.44 per share, for a total transaction of $148,800.00. Following the transaction, the director now directly owns 99,907 shares in the company, valued at approximately $743,308.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Barry E. Davis acquired 136,700 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $7.32 per share, for a total transaction of $1,000,644.00. Following the completion of the transaction, the chairman now owns 1,892,372 shares in the company, valued at $13,852,163.04. The disclosure for this purchase can be found here. Company insiders own 1.45% of the company’s stock.

A number of large investors have recently modified their holdings of ENLC. Cullen Frost Bankers Inc. raised its position in shares of EnLink Midstream by 34.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,648 shares of the pipeline company’s stock worth $47,000 after buying an additional 1,198 shares in the last quarter. Creative Planning raised its position in shares of EnLink Midstream by 14.2% during the 2nd quarter. Creative Planning now owns 16,675 shares of the pipeline company’s stock worth $168,000 after buying an additional 2,069 shares in the last quarter. Van ECK Associates Corp raised its position in shares of EnLink Midstream by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 67,309 shares of the pipeline company’s stock worth $679,000 after buying an additional 2,119 shares in the last quarter. BP Capital Fund Advisors LLC raised its position in shares of EnLink Midstream by 1.2% during the 2nd quarter. BP Capital Fund Advisors LLC now owns 227,846 shares of the pipeline company’s stock worth $2,299,000 after buying an additional 2,714 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of EnLink Midstream by 2.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 142,735 shares of the pipeline company’s stock worth $1,467,000 after buying an additional 2,745 shares in the last quarter. Hedge funds and other institutional investors own 47.46% of the company’s stock.

About EnLink Midstream

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate 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 gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.

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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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