Citigroup Increases EnLink Midstream (NYSE:ENLC) Price Target to $16.00

EnLink Midstream (NYSE:ENLC) had its target price raised by investment analysts at Citigroup from $13.00 to $16.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has a “buy” rating on the pipeline company’s stock. Citigroup’s target price would indicate a potential upside of 19.14% from the company’s previous close.

A number of other analysts also recently weighed in on ENLC. UBS Group increased their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. cut their price target on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Capital One Financial began coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price target on the stock. Finally, StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.63.

EnLink Midstream Stock Down 0.1 %

Shares of NYSE ENLC opened at $13.43 on Tuesday. The firm has a market capitalization of $6.09 billion, a PE ratio of 30.52 and a beta of 2.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. EnLink Midstream has a 1 year low of $8.45 and a 1 year high of $14.18. The firm’s 50-day moving average is $12.91 and its 200-day moving average is $12.59.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. Equities analysts expect that EnLink Midstream will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 58,410 shares in the company, valued at approximately $719,611.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total value of $616,000.00. Following the sale, the chief accounting officer now directly owns 58,410 shares in the company, valued at $719,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream stock in a transaction that occurred on 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 owns 534,000 shares in the company, valued at $6,450,720. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in ENLC. Headlands Technologies LLC acquired a new stake in shares of EnLink Midstream in the fourth quarter valued at approximately $27,000. National Bank of Canada FI acquired a new stake in shares of EnLink Midstream in the third quarter valued at approximately $28,000. JNBA Financial Advisors bought a new position in shares of EnLink Midstream in the fourth quarter valued at $30,000. Sunbelt Securities Inc. grew its stake in shares of EnLink Midstream by 232.4% in the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock valued at $67,000 after buying an additional 3,837 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of EnLink Midstream by 198.8% in the fourth quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock valued at $72,000 after buying an additional 3,965 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.