EnLink Midstream Partners (NYSE:ENLK) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They presently have a $19.00 price target on the oil and gas producer’s stock, up from their prior price target of $18.00. Citigroup’s price objective would suggest a potential upside of 5.38% from the company’s previous close. The analysts noted that the move was a valuation call.
Other analysts also recently issued reports about the company. Robert W. Baird set a $18.00 price objective on EnLink Midstream Partners and gave the stock a “hold” rating in a report on Monday, August 6th. TheStreet upgraded EnLink Midstream Partners from a “c+” rating to a “b-” rating in a report on Thursday, August 30th. Barclays upped their price objective on EnLink Midstream Partners from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. B. Riley set a $17.00 price objective on EnLink Midstream Partners and gave the stock a “hold” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus upgraded EnLink Midstream Partners from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. EnLink Midstream Partners presently has an average rating of “Hold” and an average target price of $17.46.
Shares of EnLink Midstream Partners stock opened at $18.03 on Wednesday. EnLink Midstream Partners has a fifty-two week low of $12.75 and a fifty-two week high of $19.45. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 605.67 and a beta of 2.28. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.64 and a current ratio of 0.72.
EnLink Midstream Partners (NYSE:ENLK) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas producer reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. EnLink Midstream Partners had a return on equity of 6.41% and a net margin of 3.89%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year. Analysts expect that EnLink Midstream Partners will post 0.44 earnings per share for the current fiscal year.
In related news, EVP Alaina K. Brooks sold 55,619 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $17.65, for a total value of $981,675.35. Following the completion of the sale, the executive vice president now directly owns 80,648 shares in the company, valued at approximately $1,423,437.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Goldman Sachs Group Inc purchased 91,538 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was bought at an average price of $18.52 per share, with a total value of $1,695,283.76. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tortoise Index Solutions LLC increased its holdings in EnLink Midstream Partners by 16.2% in the 2nd quarter. Tortoise Index Solutions LLC now owns 24,916 shares of the oil and gas producer’s stock valued at $387,000 after purchasing an additional 3,476 shares in the last quarter. BlackRock Inc. boosted its position in EnLink Midstream Partners by 0.8% in the 1st quarter. BlackRock Inc. now owns 526,761 shares of the oil and gas producer’s stock valued at $7,196,000 after buying an additional 4,074 shares during the last quarter. Stephens Inc. AR boosted its position in EnLink Midstream Partners by 30.7% in the 2nd quarter. Stephens Inc. AR now owns 19,841 shares of the oil and gas producer’s stock valued at $308,000 after buying an additional 4,658 shares during the last quarter. Conning Inc. boosted its position in EnLink Midstream Partners by 7.2% in the 2nd quarter. Conning Inc. now owns 141,282 shares of the oil and gas producer’s stock valued at $2,194,000 after buying an additional 9,468 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in EnLink Midstream Partners by 25.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 53,666 shares of the oil and gas producer’s stock valued at $733,000 after buying an additional 11,011 shares during the last quarter. Hedge funds and other institutional investors own 41.26% of the company’s stock.
EnLink Midstream Partners Company Profile
EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.
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