UBS Group Cuts EnLink Midstream (NYSE:ENLC) Price Target to $11.00

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EnLink Midstream (NYSE:ENLC) had its price target trimmed by UBS Group from $12.00 to $11.00 in a research report released on Monday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the pipeline company’s stock.

ENLC has been the subject of several other research reports. Mizuho began coverage on shares of EnLink Midstream in a research note on Thursday, July 25th. They set a neutral rating and a $11.50 price objective for the company. ValuEngine raised shares of EnLink Midstream from a sell rating to a hold rating in a research note on Thursday, August 1st. Credit Suisse Group cut shares of EnLink Midstream from an outperform rating to a neutral rating and dropped their price objective for the company from $13.50 to $8.00 in a research note on Monday, August 19th. Barclays reaffirmed a hold rating and set a $12.00 price objective on shares of EnLink Midstream in a research note on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $12.00 price objective on shares of EnLink Midstream in a research note on Sunday, August 11th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $11.55.

Shares of NYSE ENLC opened at $8.17 on Monday. EnLink Midstream has a 12-month low of $7.03 and a 12-month high of $17.60. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $8.19 and a 200 day moving average of $10.44.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). EnLink Midstream had a negative net margin of 3.21% and a negative return on equity of 0.16%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, research analysts forecast that EnLink Midstream will post 0.33 earnings per share for the current fiscal year.

In other news, Director Kyle D. Vann purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $7.44 per share, with a total value of $148,800.00. Following the purchase, the director now directly owns 99,907 shares in the company, valued at approximately $743,308.08. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Barry E. Davis purchased 136,700 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $7.32 per share, with a total value of $1,000,644.00. Following the purchase, the chairman now owns 1,892,372 shares in the company, valued at $13,852,163.04. The disclosure for this purchase can be found here. Corporate insiders own 1.45% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its holdings in shares of EnLink Midstream by 34.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,648 shares of the pipeline company’s stock worth $47,000 after acquiring an additional 1,198 shares during the last quarter. Creative Planning lifted its holdings in shares of EnLink Midstream by 14.2% in the 2nd quarter. Creative Planning now owns 16,675 shares of the pipeline company’s stock worth $168,000 after acquiring an additional 2,069 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of EnLink Midstream by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 67,309 shares of the pipeline company’s stock worth $679,000 after acquiring an additional 2,119 shares during the last quarter. Avestar Capital LLC acquired a new position in shares of EnLink Midstream in the 1st quarter worth approximately $28,000. Finally, BP Capital Fund Advisors LLC lifted its holdings in shares of EnLink Midstream by 1.2% in the 2nd quarter. BP Capital Fund Advisors LLC now owns 227,846 shares of the pipeline company’s stock worth $2,299,000 after acquiring an additional 2,714 shares during the last quarter. 50.01% of the stock is 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 Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.

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Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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