In a report issued on November 6, T J Schultz from RBC Capital maintained a Buy rating on EnLink Midstream (ENLC), with a price target of $5.00. The company’s shares closed last Tuesday at $2.99.
According to TipRanks.com, Schultz is a 5-star analyst with an average return of 9.3% and a 59.2% success rate. Schultz covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Oasis Midstream Partners, and NGL Energy Partners.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for EnLink Midstream with a $2.50 average price target.
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Based on EnLink Midstream’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $929 million and net profit of $12.6 million. In comparison, last year the company earned revenue of $1.4 billion and had a net profit of $11.8 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENLC in relation to earlier this year.
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EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, North Texas, Oklahoma, Louisiana and Corporate. The Permian segment includes natural gas gathering, processing, and transmission activities and crude oil operations in the Midland and Delaware Basins in West Texas and Eastern New Mexico and crude operations in South Texas. The North Texas segment includes natural gas gathering, processing, and transmission activities in North Texas. The Oklahoma segment includes natural gas gathering, processing, and transmission activities, and crude oil operations in the Cana-Woodford, Arkoma-Woodford, northern Oklahoma Woodford, STACK, and CNOW shale areas. The Louisiana segment includes natural gas pipelines, natural gas processing plants, storage facilities, fractionation facilities, and NGL assets located in Louisiana and crude oil operations in ORV. The Corporate segment includes investments in the Cedar Cove JV in Oklahoma, ownership interest in GCF in South Texas, derivative activity and general corporate assets and expenses. The company was founded in October 2013 and is headquartered in Dallas, TX.
