EnLink Midstream (ENLC) Coverage Initiated at Bank of America

Bank of America assumed coverage on shares of EnLink Midstream (NYSE:ENLC) in a report issued on Tuesday, The Fly reports. The brokerage issued a neutral rating on the pipeline company’s stock.

A number of other equities analysts have also commented on ENLC. Robert W. Baird reissued a hold rating and set a $21.00 price target on shares of EnLink Midstream in a research note on Thursday, September 21st. BidaskClub downgraded EnLink Midstream from a hold rating to a sell rating in a research report on Saturday, September 30th. Seaport Global Securities initiated coverage on EnLink Midstream in a research report on Tuesday, October 10th. They set a neutral rating and a $16.00 price objective on the stock. Zacks Investment Research upgraded EnLink Midstream from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research report on Tuesday, October 17th. Finally, UBS Group upgraded EnLink Midstream from a neutral rating to a buy rating and set a $19.00 price objective on the stock in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $18.83.

Shares of EnLink Midstream (NYSE:ENLC) traded up $0.65 during trading on Tuesday, reaching $18.90. The company had a trading volume of 407,600 shares, compared to its average volume of 288,237. EnLink Midstream has a 52 week low of $15.00 and a 52 week high of $20.45. The company has a market capitalization of $3,410.00, a price-to-earnings ratio of 630.00 and a beta of 2.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 0.85.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. EnLink Midstream’s revenue was up 26.6% compared to the same quarter last year. sell-side analysts predict that EnLink Midstream will post 0.3 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Chickasaw Capital Management LLC raised its holdings in shares of EnLink Midstream by 3.0% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,898,889 shares of the pipeline company’s stock worth $279,820,000 after buying an additional 456,251 shares during the period. Tortoise Capital Advisors L.L.C. raised its holdings in shares of EnLink Midstream by 8.0% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 3,737,067 shares of the pipeline company’s stock worth $64,464,000 after buying an additional 275,225 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of EnLink Midstream in the third quarter worth approximately $1,130,000. Gen IV Investment Opportunities LLC raised its holdings in shares of EnLink Midstream by 0.8% in the third quarter. Gen IV Investment Opportunities LLC now owns 1,661,314 shares of the pipeline company’s stock worth $28,658,000 after buying an additional 14,000 shares during the period. Finally, Signature Financial Management Inc. raised its holdings in shares of EnLink Midstream by 29.4% in the third quarter. Signature Financial Management Inc. now owns 30,700 shares of the pipeline company’s stock worth $529,000 after buying an additional 6,975 shares during the period. Institutional investors and hedge funds own 34.08% of the company’s stock.

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About EnLink Midstream

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.

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