Zacks Investment Research lowered shares of EnLink Midstream (NYSE:ENLC) from a buy rating to a hold rating in a report issued on Wednesday.

According to Zacks, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas. “

Several other equities analysts have also commented on the stock. ValuEngine raised shares of EnLink Midstream from a sell rating to a hold rating in a research report on Tuesday, October 2nd. Barclays increased their price objective on shares of EnLink Midstream from $16.00 to $18.00 and gave the stock a hold rating in a research report on Wednesday, August 29th. Raymond James reissued a buy rating and issued a $19.00 price objective on shares of EnLink Midstream in a research report on Friday, August 17th. Finally, Robert W. Baird reissued a hold rating and issued a $18.00 price objective on shares of EnLink Midstream in a research report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $17.86.

ENLC stock traded down $0.24 on Wednesday, hitting $16.00. 496,346 shares of the company were exchanged, compared to its average volume of 495,534. EnLink Midstream has a twelve month low of $13.80 and a twelve month high of $20.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -320.00 and a beta of 2.62.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, July 31st. The pipeline company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.05). EnLink Midstream had a return on equity of 0.86% and a net margin of 3.73%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. As a group, equities analysts forecast that EnLink Midstream will post 0.45 EPS for the current fiscal year.

In other news, EVP Alaina K. Brooks sold 48,442 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $17.36, for a total value of $840,953.12. Following the completion of the transaction, the executive vice president now directly owns 78,190 shares in the company, valued at $1,357,378.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.24% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in ENLC. Tortoise Index Solutions LLC boosted its stake in EnLink Midstream by 11.5% during the 2nd quarter. Tortoise Index Solutions LLC now owns 33,249 shares of the pipeline company’s stock valued at $547,000 after acquiring an additional 3,425 shares during the last quarter. Wells Fargo & Company MN boosted its stake in EnLink Midstream by 4.9% during the 1st quarter. Wells Fargo & Company MN now owns 80,712 shares of the pipeline company’s stock valued at $1,182,000 after acquiring an additional 3,748 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in EnLink Midstream by 110.1% during the 1st quarter. Russell Investments Group Ltd. now owns 7,934 shares of the pipeline company’s stock valued at $116,000 after acquiring an additional 4,157 shares during the last quarter. Stephens Inc. AR boosted its stake in EnLink Midstream by 21.5% during the 2nd quarter. Stephens Inc. AR now owns 28,179 shares of the pipeline company’s stock valued at $464,000 after acquiring an additional 4,982 shares during the last quarter. Finally, Swiss National Bank boosted its stake in EnLink Midstream by 4.9% during the 1st quarter. Swiss National Bank now owns 110,123 shares of the pipeline company’s stock valued at $1,613,000 after acquiring an additional 5,100 shares during the last quarter. Institutional investors and hedge funds own 32.40% of the company’s stock.

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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