EnLink Midstream (NYSE:ENLC) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of EnLink Midstream (NYSE:ENLC) from a hold rating to a buy rating in a research report sent to investors on Monday, Benzinga reports. Jefferies Financial Group currently has $12.00 target price on the pipeline company’s stock, down from their prior target price of $13.00. Jefferies Financial Group also issued estimates for EnLink Midstream’s Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.39 EPS, Q1 2020 earnings at $0.14 EPS, FY2020 earnings at $0.55 EPS, FY2021 earnings at $0.56 EPS, FY2022 earnings at $0.58 EPS and FY2023 earnings at $0.60 EPS.

A number of other research analysts have also commented on ENLC. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Zacks Investment Research lowered Garrett Motion from a hold rating to a sell rating in a report on Wednesday, March 20th. Barclays reissued a buy rating on shares of Bayerische Motoren Werke in a report on Friday, March 22nd. Finally, Stifel Nicolaus started coverage on SkyWest in a report on Monday, April 15th. They set a buy rating and a $68.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. EnLink Midstream has an average rating of Hold and an average price target of $15.70.

Shares of ENLC opened at $10.30 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.88. EnLink Midstream has a one year low of $8.90 and a one year high of $18.00. The company’s fifty day simple moving average is $10.22.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. EnLink Midstream had a negative return on equity of 0.09% and a negative net margin of 2.62%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. Sell-side analysts anticipate that EnLink Midstream will post 0.26 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Avestar Capital LLC bought a new position in EnLink Midstream during the first quarter valued at about $28,000. Arlington Partners LLC acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $30,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of EnLink Midstream in the 1st quarter valued at $31,000. Valeo Financial Advisors LLC acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $35,000. Finally, Macquarie Group Ltd. boosted its position in shares of EnLink Midstream by 263.3% in the 4th quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 2,899 shares during the period. 49.19% of the stock is owned by institutional investors and hedge funds.

About EnLink Midstream

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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