EnLink Midstream (NYSE:ENLC) PT Raised to $16.00

EnLink Midstream (NYSE:ENLC) had its target price increased by analysts at Citigroup from $13.00 to $16.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. Citigroup’s target price would suggest a potential upside of 18.96% from the stock’s previous close.

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

EnLink Midstream Stock Down 0.8 %

ENLC opened at $13.45 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70. The firm has a 50 day moving average price of $12.84 and a 200-day moving average price of $12.58. EnLink Midstream has a twelve month low of $8.45 and a twelve month high of $14.18. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 30.57 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Equities research analysts forecast that EnLink Midstream will post 0.6 earnings per share for the current year.

Insider Transactions at EnLink Midstream

In related news, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction 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 owns 58,410 shares of the company’s stock, valued at $719,611.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction 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 owns 58,410 shares of the company’s stock, valued at $719,611.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction 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 directly owns 534,000 shares in the company, valued at approximately $6,450,720. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On EnLink Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in shares of EnLink Midstream by 4.4% in the third quarter. Envestnet Asset Management Inc. now owns 20,695 shares of the pipeline company’s stock worth $184,000 after purchasing an additional 878 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of EnLink Midstream by 14.8% in the third quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock worth $84,000 after purchasing an additional 885 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,343 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of EnLink Midstream by 13.6% in the fourth quarter. Alliancebernstein L.P. now owns 12,110 shares of the pipeline company’s stock worth $149,000 after purchasing an additional 1,446 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in shares of EnLink Midstream by 2.4% in the third quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock worth $795,000 after purchasing an additional 1,494 shares during the last quarter. Hedge funds and other 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.