EnLink Midstream (NYSE:ENLC) PT Lowered to $9.00 at Royal Bank of Canada

EnLink Midstream (NYSE:ENLC) had its price target reduced by stock analysts at Royal Bank of Canada from $10.00 to $9.00 in a research note issued on Friday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 53.06% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. TheStreet cut EnLink Midstream from a “c-” rating to a “d+” rating in a report on Friday, November 15th. Robert W. Baird upgraded EnLink Midstream from a “neutral” rating to an “outperform” rating and set a $6.00 price target on the stock in a research note on Thursday, December 5th. UBS Group downgraded EnLink Midstream from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $7.00 in a report on Tuesday, October 8th. Zacks Investment Research raised EnLink Midstream from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Co downgraded EnLink Midstream from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. EnLink Midstream has an average rating of “Hold” and a consensus target price of $9.63.

Shares of ENLC stock traded up $0.03 during trading hours on Friday, reaching $5.88. The company had a trading volume of 55,488 shares, compared to its average volume of 7,449,961. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.95 and a current ratio of 0.95. EnLink Midstream has a twelve month low of $4.33 and a twelve month high of $13.10. The company has a market capitalization of $2.80 billion, a P/E ratio of -84.43, a price-to-earnings-growth ratio of 6.92 and a beta of 2.02. The stock’s fifty day simple moving average is $5.55 and its 200 day simple moving average is $7.32.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.77 billion. EnLink Midstream had a negative return on equity of 0.09% and a negative net margin of 3.48%. The company’s quarterly revenue was down 33.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. As a group, equities analysts expect that EnLink Midstream will post 0.19 earnings per share for the current year.

In other EnLink Midstream news, Director Kyle D. Vann bought 10,000 shares of EnLink Midstream stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $4.87 per share, with a total value of $48,700.00. Following the acquisition, the director now directly owns 124,907 shares of the company’s stock, valued at $608,297.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.45% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning boosted its holdings in shares of EnLink Midstream by 9.3% in the 3rd quarter. Creative Planning now owns 18,221 shares of the pipeline company’s stock worth $155,000 after acquiring an additional 1,546 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in EnLink Midstream by 2.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 93,479 shares of the pipeline company’s stock worth $795,000 after buying an additional 1,976 shares in the last quarter. Virtu Financial LLC lifted its holdings in EnLink Midstream by 20.4% during the 3rd quarter. Virtu Financial LLC now owns 13,760 shares of the pipeline company’s stock worth $117,000 after buying an additional 2,335 shares in the last quarter. BP Capital Fund Advisors LLC lifted its holdings in 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, Royal Bank of Canada lifted its holdings in EnLink Midstream by 3.1% during the 2nd quarter. Royal Bank of Canada now owns 125,050 shares of the pipeline company’s stock worth $1,262,000 after buying an additional 3,759 shares in the last quarter. 46.82% of the stock is currently owned by institutional investors and hedge funds.

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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