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

Several other research firms have also issued reports on ENLC. Mitsubishi UFJ Financial Group lowered shares of EnLink Midstream from an overweight rating to a neutral rating and cut their price target for the stock from $15.00 to $10.00 in a report on Wednesday, August 7th. Jefferies Financial Group raised shares of EnLink Midstream from a hold rating to a buy rating and cut their price target for the stock from $13.00 to $12.00 in a report on Monday, July 15th. Mizuho assumed coverage on shares of EnLink Midstream in a report on Thursday, July 25th. They issued a neutral rating and a $11.50 price target on the stock. ValuEngine raised shares of EnLink Midstream from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, Credit Suisse Group lowered shares of EnLink Midstream from an outperform rating to a neutral rating and cut their price target for the stock from $13.50 to $8.00 in a report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. EnLink Midstream currently has a consensus rating of Hold and an average target price of $11.55.

Shares of ENLC stock opened at $8.17 on Monday. The company’s 50 day moving average is $8.19 and its 200 day moving average is $10.44. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. EnLink Midstream has a 52-week low of $7.03 and a 52-week high of $17.60.

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

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cresset Asset Management LLC grew its holdings in shares of EnLink Midstream by 4,420.0% during the second quarter. Cresset Asset Management LLC now owns 207,062 shares of the pipeline company’s stock valued at $2,090,000 after buying an additional 202,481 shares during the last quarter. Barings LLC grew its holdings in shares of EnLink Midstream by 192.0% during the second quarter. Barings LLC now owns 170,803 shares of the pipeline company’s stock valued at $1,723,000 after buying an additional 112,303 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of EnLink Midstream by 3.1% during the second quarter. Royal Bank of Canada now owns 125,050 shares of the pipeline company’s stock valued at $1,262,000 after buying an additional 3,759 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of EnLink Midstream during the second quarter valued at $2,018,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of EnLink Midstream by 26.0% during the second quarter. UBS Asset Management Americas Inc. now owns 186,495 shares of the pipeline company’s stock valued at $1,882,000 after buying an additional 38,506 shares during the last quarter. 50.01% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: Stocks Increasing Dividends

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

Receive News & Ratings for EnLink Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream and related companies with MarketBeat.com's FREE daily email newsletter.