EnLink Midstream (ENLC) Lowered to Underweight at JPMorgan Chase

JPMorgan Chase lowered shares of EnLink Midstream (NYSE:ENLC) from a neutral rating to an underweight rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has $17.00 price target on the pipeline company’s stock.

A number of other brokerages also recently commented on ENLC. B. Riley began coverage on EnLink Midstream in a report on Friday, January 26th. They set a neutral rating and a $18.00 target price for the company. Royal Bank of Canada reiterated a hold rating and issued a $20.00 price objective on shares of EnLink Midstream in a report on Tuesday, January 16th. Jefferies Group reiterated a hold rating and issued a $16.00 price objective on shares of EnLink Midstream in a report on Friday, January 12th. Credit Suisse Group initiated coverage on EnLink Midstream in a report on Thursday, January 4th. They issued a neutral rating and a $19.00 price objective for the company. Finally, ValuEngine downgraded EnLink Midstream from a hold rating to a sell rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. EnLink Midstream presently has an average rating of Hold and an average target price of $17.93.

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Shares of EnLink Midstream stock opened at $14.10 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.64. The company has a market cap of $2,677.07, a P/E ratio of -282.00 and a beta of 2.47. EnLink Midstream has a 52 week low of $13.80 and a 52 week high of $20.00.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, February 20th. The pipeline company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.20). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.44 billion. EnLink Midstream had a net margin of 3.71% and a return on equity of 0.23%. equities analysts predict that EnLink Midstream will post 0.73 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of EnLink Midstream by 32.9% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 153,200 shares of the pipeline company’s stock valued at $2,696,000 after acquiring an additional 37,900 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of EnLink Midstream by 4.8% during the fourth quarter. Glenmede Trust Co. NA now owns 102,933 shares of the pipeline company’s stock valued at $1,811,000 after acquiring an additional 4,727 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of EnLink Midstream during the fourth quarter valued at $144,000. Cypress Wealth Advisors LLC bought a new position in shares of EnLink Midstream during the fourth quarter valued at $3,499,000. Finally, Millennium Management LLC increased its holdings in shares of EnLink Midstream by 231.1% during the fourth quarter. Millennium Management LLC now owns 1,071,226 shares of the pipeline company’s stock valued at $18,854,000 after acquiring an additional 747,674 shares in the last quarter. Institutional investors and hedge funds own 33.66% of the company’s stock.

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EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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