Mitsubishi UFJ Financial Group Upgrades EnLink Midstream (ENLC) to “Overweight”

EnLink Midstream (NYSE:ENLC) was upgraded by stock analysts at Mitsubishi UFJ Financial Group from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, The Fly reports. The firm presently has a $18.00 price objective on the pipeline company’s stock, down from their prior price objective of $20.00. Mitsubishi UFJ Financial Group’s price target indicates a potential upside of 48.76% from the company’s current price.

Other equities analysts have also issued research reports about the company. ValuEngine raised EnLink Midstream from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Robert W. Baird reissued a “hold” rating and set a $18.00 price objective on shares of EnLink Midstream in a research note on Monday, August 6th. Raymond James reissued a “buy” rating and set a $19.00 price objective on shares of EnLink Midstream in a research note on Friday, August 17th. Credit Suisse Group began coverage on EnLink Midstream in a research note on Thursday, October 11th. They set a “neutral” rating and a $19.00 price objective on the stock. Finally, Tudor Pickering began coverage on EnLink Midstream in a research note on Monday, November 5th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.57.

NYSE ENLC opened at $12.10 on Thursday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 50.00 and a beta of 2.33. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. EnLink Midstream has a fifty-two week low of $11.90 and a fifty-two week high of $20.00.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, November 6th. The pipeline company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.08). The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $1.74 billion. EnLink Midstream had a return on equity of 0.88% and a net margin of 3.39%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. Equities analysts anticipate that EnLink Midstream will post 0.51 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co lifted its stake in shares of EnLink Midstream by 45.4% in the 2nd quarter. Paloma Partners Management Co now owns 23,484 shares of the pipeline company’s stock valued at $386,000 after purchasing an additional 7,331 shares during the last quarter. Millennium Management LLC lifted its stake in shares of EnLink Midstream by 33.6% in the 2nd quarter. Millennium Management LLC now owns 1,464,440 shares of the pipeline company’s stock valued at $24,090,000 after purchasing an additional 368,066 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $218,000. Macquarie Group Ltd. acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $102,000. Finally, Alps Advisors Inc. lifted its stake in shares of EnLink Midstream by 15.4% in the 2nd quarter. Alps Advisors Inc. now owns 64,560 shares of the pipeline company’s stock valued at $1,136,000 after purchasing an additional 8,614 shares during the last quarter. 32.13% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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