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EnLink Midstream (NYSE:ENLC) Stock, Rapport sur les intérêts à découvert

EnLink Midstream

EnLink Midstream LLC is an integrated midstream company. The company's operating segment includes Permian; North Texas; Oklahoma; Louisiana and Corporate. The company generates maximum revenue from the Louisiana segment. The Louisiana segment includes natural gas pipelines, natural gas processing plants, storage facilities, fractionation facilities, and NGL assets.

EnLink Midstream, LLC Common Units representing Limited Partner Interests

EnLink Midstream LLC

EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) will release its quarterly earnings report on Wednesday, 2024-11-06. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate EnLink Midstream to report an earnings per share (EPS) of $0.15.
EnLink Midstream bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Overview of Past Earnings</h3>
In the previous earnings release, the company missed EPS by $0.07, leading to a 6.82% drop in the share price the following trading session.
Here's a look at EnLink Midstream's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.14</td>
<td>0.13</td>
<td>0.15</td>
<td>0.13</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.07</td>
<td>0.06</td>
<td>0.14</td>
<td>0.10</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-7.000000000000001%</td>
<td>-6.0%</td>
<td>-2.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730836948_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of EnLink Midstream were trading at $14.94 as of November 04. Over the last 52-week period, shares are up 24.33%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Observations about EnLink Midstream</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on EnLink Midstream.
EnLink Midstream has received a total of 8 ratings from analysts, with the consensus rating as Neutral. With an average one-year price target of $15.5, the consensus suggests a potential 3.75% upside.
<h3>Analyzing Ratings Among Peers</h3>
The analysis below examines the analyst ratings and average 1-year price targets of Antero Midstream, DT Midstream and Frontline, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Underperform trajectory for Antero Midstream, with an average 1-year price target of $16.0, suggesting a potential 7.1% upside.</li>
<li>Analysts currently favor an Neutral trajectory for DT Midstream, with an average 1-year price target of $86.38, suggesting a potential 478.18% upside.</li>
<li>The consensus outlook from analysts is an Buy trajectory for Frontline, with an average 1-year price target of $30.0, indicating a potential 100.8% upside.</li>
</ul>
<h3>Key Findings: Peer Analysis Summary</h3>
The peer analysis summary provides a snapshot of key metrics for Antero Midstream, DT Midstream and Frontline, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>EnLink Midstream</td>
<td>Neutral</td>
<td>2.18%</td>
<td>$326.70M</td>
<td>4.20%</td>
</tr>
<tr>
<td>Antero Midstream</td>
<td>Underperform</td>
<td>2.14%</td>
<td>$185.61M</td>
<td>4.68%</td>
</tr>
<tr>
<td>DT Midstream</td>
<td>Neutral</td>
<td>5.98%</td>
<td>$195M</td>
<td>2.09%</td>
</tr>
<tr>
<td>Frontline</td>
<td>Buy</td>
<td>8.44%</td>
<td>$217.00M</td>
<td>7.81%</td>
</tr>
</tbody>
</table>

Key Takeaway:
EnLink Midstream ranks in the middle for consensus rating among its peers. It is at the bottom for revenue growth. In terms of gross profit, it is at the top among its peers. For return on equity, it is at the bottom compared to its peers.
<h3>Delving into EnLink Midstream's Background</h3>
EnLink Midstream LLC is an integrated midstream company. The company's operating segment includes Permian; North Texas; Oklahoma; Louisiana and Corporate. The company generates maximum revenue from the Louisiana segment. The Louisiana segment includes natural gas pipelines, natural gas processing plants, storage facilities, fractionation facilities, and NGL assets.
<h3>Unraveling the Financial Story of EnLink Midstream</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: EnLink Midstream displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 2.18%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Net Margin: EnLink Midstream's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 2.46%, the company may face hurdles in effective cost management.
Return on Equity (ROE): EnLink Midstream's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 4.2%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): EnLink Midstream's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.47%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 5.11, caution is advised due to increased financial risk.
<a href="https://www.benzinga.com/quote/ENLC/earnings">To track all earnings releases for EnLink Midstream visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

ENLC

Examining the Future: EnLink Midstream's Earnings Outlook

Mizuho analyst Gabriel Moreen reinstates EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) with a Neutral and announces $15 price target.

News

Price Target

Initiation

Analyst Ratings

Mizuho Reinstates Neutral on EnLink Midstream, Announces $15 Price Target

Disclosed on October 17, Global Infrastructure Investors III LLC, 10% Owner at EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>), executed a substantial insider sell as per the latest SEC filing.
What Happened: According to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001592000/000149315224041415//Archives/edgar/data/1592000/000149315224041415/0001493152-24-041415-index.htm">U.S. Securities and Exchange Commission</a> on Thursday, LLC sold 200,340,753 shares of EnLink Midstream. The total transaction value is $2,985,077,219.
At Friday morning, EnLink Midstream shares are up by 0.96%, trading at $14.74.
<h3>All You Need to Know About EnLink Midstream</h3>
EnLink Midstream LLC is an integrated midstream company. The company's operating segment includes Permian; North Texas; Oklahoma; Louisiana and Corporate. The company generates maximum revenue from the Louisiana segment. The Louisiana segment includes natural gas pipelines, natural gas processing plants, storage facilities, fractionation facilities, and NGL assets.
<h3>Unraveling the Financial Story of EnLink Midstream</h3>
Revenue Growth: EnLink Midstream's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 2.18%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Profitability Metrics:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 21.05%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): EnLink Midstream's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.07.
</li>
</ul>
Debt Management: EnLink Midstream's debt-to-equity ratio surpasses industry norms, standing at 5.11. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
Valuation Metrics: A Closer Look
<ul>
<li>
Price to Earnings (P/E) Ratio: EnLink Midstream's stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 48.67.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 0.98 is below industry norms, suggesting potential undervaluation and presenting an investment opportunity for those considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio 9.15 is above the industry average, suggesting that the market values the company more highly for each unit of EBITDA. This could be attributed to factors such as strong growth prospects or superior operational efficiency.
</li>
</ul>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
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<h3>The Impact of Insider Transactions on Investments</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
In the realm of legality, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities under Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are required to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Notably, when a company insider makes a new purchase, it is considered an indicator of their positive expectations for the stock.
Conversely, insider sells may not necessarily signal a bearish stance on the stock and can be motivated by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001592000">Check Out The Full List Of EnLink Midstream's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

Insider Decision: Global Infrastructure Investors III LLC Offloads $2.99B Worth Of EnLink Midstream Stock

UBS analyst Brian Reynolds downgrades EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) from Buy to Neutral and announces $16 price target.

Downgrades

UBS Downgrades EnLink Midstream to Neutral, Announces $16 Price Target

ENLC intends to fund the redemption and associated costs with borrowings under its revolving credit facility.

EnLink Midstream Reports Redemption Of Its 6.000% Series C Fixed-to-floating Rate Cumulative Redeemable Perpetual Preferred Units

EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) has been analyzed by 8 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $15.62, a high estimate of $17.00, and a low estimate of $15.00. This current average has increased by 5.11% from the previous average price target of $14.86. 
<img src="https://www.benzinga.com/files/images/story/2024/1726491669_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of EnLink Midstream's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Robert Kad</td>
<td>Morgan Stanley</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$16.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Wade Suki</td>
<td>Capital One</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$16.00</td>
<td>-</td>
</tr>
<tr>
<td>Praneeth Satish</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$15.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Selman Akyol</td>
<td>Stifel</td>
<td>Maintains</td>
<td>Hold</td>
<td>$15.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$15.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Robert Kad</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$16.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Jeremy Tonet</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$15.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Praneeth Satish</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$17.00</td>
<td>$13.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to EnLink Midstream. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of EnLink Midstream compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of EnLink Midstream's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into EnLink Midstream's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ENLC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on EnLink Midstream analyst ratings.</a>
<h2>Unveiling the Story Behind EnLink Midstream</h2>
EnLink Midstream LLC is an integrated midstream company. The company's operating segment includes Permian; North Texas; Oklahoma; Louisiana and Corporate. The company generates maximum revenue from the Louisiana segment. The Louisiana segment includes natural gas pipelines, natural gas processing plants, storage facilities, fractionation facilities, and NGL assets.
<h3>Unraveling the Financial Story of EnLink Midstream</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: EnLink Midstream's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 2.18%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 2.46%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): EnLink Midstream's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 4.2%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): EnLink Midstream's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.47%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 5.11, caution is advised due to increased financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

In-Depth Examination Of 8 Analyst Recommendations For EnLink Midstream

Morgan Stanley analyst Robert Kad downgrades EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) from Overweight to Equal-Weight and maintains the price target from $16 to $16.

Morgan Stanley Downgrades EnLink Midstream to Equal-Weight, Maintains Price Target to $16

Capital One analyst Wade Suki downgrades EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) from Overweight to Equal-Weight and announces $16 price target.

Capital One Downgrades EnLink Midstream to Equal-Weight, Announces $16 Price Target

Editor&#8217;s note: This story has been corrected to reflect that analyst Koji Ikeda covers Elastic N.V. for Bank of America Securities.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58e64305b85e9300014c97f9/wamsi-mohan">B of A Securities analyst Koji Ikeda</a> downgraded the rating for Elastic N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) from Buy to Neutral and lowered the price target from $140 to $94. Elastic shares gained 0.6% to close at $103.64 on Thursday. <a href="https://www.benzinga.com/quote/estc/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Gordon Haskett analyst Chuck Grom downgraded Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) from Buy to Hold and announces $90 price target. Dollar General shares fell 32.2% to close at $84.03 on Thursday. <a href="https://www.benzinga.com/quote/dg/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59c264af6e84a70001eb1bb9/oliver-chen">TD Cowen analyst Oliver Chen</a> downgraded the rating for Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) from Buy to Hold and lowered the price target from $25 to $21. Kohl&#8217;s shares rose 0.6% to close at $19.77 on Thursday. <a href="https://www.benzinga.com/quote/kss/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel analyst Selman Akyol downgraded the rating for EnLink Midstream, LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) from Buy to Hold and maintained the price target of $15. EnLink Midstream shares gained 9.4% to settle at $14.40 on Thursday. <a href="https://www.benzinga.com/quote/enlc/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/620ce684a9d04f0001c832d4/leo-you">CLSA analyst Leo You</a> downgraded Baozun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZUN#NASDAQ">BZUN</a>) from Outperform to Hold and cut the price target from $2.8 to $2.2. Baozun shares gained 4.5% to close at $2.32 on Thursday. <a href="https://www.benzinga.com/quote/bzun/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying DG stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="523" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30085157/image-317-1024x523.png" alt="" class="wp-image-523090" style="width:605px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30085157/image-317-1024x523.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30085157/image-317-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30085157/image-317-768x392.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30085157/image-317.png 1327w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Pre-Market Outlook

Markets

BZUN

ESTC

This Dollar General Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday (CORRECTED)

Wells Fargo analyst Praneeth Satish downgrades EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) from Overweight to Equal-Weight and lowers the price target from $16 to $15.

Wells Fargo Downgrades EnLink Midstream to Equal-Weight, Lowers Price Target to $15

Stifel analyst Selman Akyol downgrades EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) from Buy to Hold and maintains the price target from $15 to $15.

Stifel Downgrades EnLink Midstream to Hold, Maintains Price Target to $15

4 analysts have expressed a variety of opinions on EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $15.75, a high estimate of $17.00, and a low estimate of $15.00. This upward trend is evident, with the current average reflecting a 10.53% increase from the previous average price target of $14.25.
<img src="https://www.benzinga.com/files/images/story/2024/1724958039_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of EnLink Midstream's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$15.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Robert Kad</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$16.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Jeremy Tonet</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$15.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Praneeth Satish</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$17.00</td>
<td>$13.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to EnLink Midstream. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of EnLink Midstream compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of EnLink Midstream's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of EnLink Midstream's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/ENLC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on EnLink Midstream analyst ratings.</a>
<h2>Delving into EnLink Midstream's Background</h2>
EnLink Midstream LLC is an integrated midstream company. The company's operating segment includes Permian; North Texas; Oklahoma; Louisiana and Corporate. The company generates maximum revenue from the Louisiana segment. The Louisiana segment includes natural gas pipelines, natural gas processing plants, storage facilities, fractionation facilities, and NGL assets.
<h3>Understanding the Numbers: EnLink Midstream's Finances</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining EnLink Midstream's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 2.18% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: EnLink Midstream's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 2.46%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 4.2%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): EnLink Midstream's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 0.47%, the company may face hurdles in achieving optimal financial returns.
Debt Management: EnLink Midstream's debt-to-equity ratio is notably higher than the industry average. With a ratio of 5.11, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Verdict: EnLink Midstream In The Eyes Of 4 Experts

RBC Capital analyst Elvira Scotto reiterates EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) with a Sector Perform and maintains $15 price target.

Reiteration

RBC Capital Reiterates Sector Perform on EnLink Midstream, Maintains $15 Price Target

EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) shares are trading higher premarket Thursday after ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>) agreed to acquire Global Infrastructure Partners&#8216; (GIP) 43% stake in the company <a href="https://www.benzinga.com/pressreleases/24/08/n40616439/oneok-to-acquire-medallion-and-controlling-interest-in-enlink-from-global-infrastructure-partners-" target="_blank" rel="noreferrer noopener">for $3 billion, or $14.90 per unit</a>.
The per unit price represents a 12.8% premium over EnLink&#8217;s closing market price as of Aug. 27, 2024.
The deal also includes 100% of the managing member&#8217;s interests for $300 million. This brings the total cash consideration to approximately $3.3 billion.
Separately, ONEOK will also acquire all equity interests in Medallion Midstream, LLC, for $2.6 billion in cash.
This acquisition, representing about 6.3 times the estimated 2025 EBITDA. It includes base case synergies, and pertains to Medallion&#8217;s extensive crude gathering and transportation system in the Permian&#8217;s Midland Basin.
The total transactions are valued at $5.9 billion.
The deals add 1.7 billion cubic feet per day to ONEOK&#8217;s Permian gas processing capacity and 1.6 million barrels per day of Permian crude gathering capacity. 
ONEOK plans to leverage its expanded platforms to enhance service offerings for producers in the Permian Basin.
The transactions are not cross-conditioned and are anticipated to close early in the fourth quarter of 2024.
Synergies: The transactions are expected to support ONEOK&#8217;s $2 billion share repurchase program.
Following these deals, ONEOK expects to achieve annual synergies of $250 million <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">to $450 million within three years</a>.
Following the transaction with GIP, EnLink will become a consolidated subsidiary of ONEOK for GAAP financial reporting.
Investors can gain exposure to ENLC via Global X MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLPA#NYSE">MLPA</a>) and Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>).
Price Action: ENLC shares are up 13.22% at $14.90 premarket at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/23/08/33527138/exxon-mobil-top-stories-enlink-midstreams-sustainability-report-lithium-supply-chain-talks-and-globa" target="_blank" rel="noreferrer noopener">Exxon Mobil Top Stories: EnLink Midstream&#8217;s Sustainability Report, Lithium Supply Chain Talks and Global Lubricants Market Report</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Mid Cap

Guidance

Movers

AMLP

MLPA

ONEOK Spends $3B On EnLink Midstream Stake, $2.6B On Medallion

WIIM

EnLink Midstream shares are trading higher after the company announced its interest that is currently owned by Global Infrastructure Partners will be acquired by ONEOK.

<ul>
<li>Establishes fully integrated Permian Basin platform at scale</li>
<li>Expands and extends footprint in Mid-Continent,&nbsp;North Texas&nbsp;and&nbsp;Louisiana</li>
<li>Delivers immediate accretion to EPS and FCF supporting capital allocation strategy</li>
<li>Provides significant synergies through complementary asset positions</li>
<li>Maintains ONEOK&#39;s strong investment-grade credit ratings&nbsp;</li>
<li>ONEOK intends to pursue a tax-free acquisition of the EnLink&nbsp;publicly held interests following the closing of this transaction</li>
</ul>

Reported Earlier, ONEOK To Acquire Medallion And Majority Stake In EnLink In A $5.9B Deal, Strengthening Permian Basin Platform

Morgan Stanley analyst Robert Kad maintains EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) with a Overweight and raises the price target from $15 to $16.

Morgan Stanley Maintains Overweight on EnLink Midstream, Raises Price Target to $16

EnLink Midstream shares are trading lower after the company reported worse-than-expected Q2 financial results.

EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) reported quarterly earnings of $0.07 per share which missed the analyst consensus estimate of $0.13 by 46.15 percent. The company reported quarterly sales of $1.551 billion which missed the analyst consensus estimate of $1.905 billion by 18.57 percent. This is a 1.37 percent increase over sales of $1.530 billion the same period last year.

Earnings Misses

EnLink Midstream Q2 2024 GAAP EPS $0.07 Misses $0.13 Estimate, Sales $1.551B Miss $1.905B Estimate

JP Morgan analyst Jeremy Tonet maintains EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) with a Neutral and raises the price target from $14 to $15.

JP Morgan Maintains Neutral on EnLink Midstream, Raises Price Target to $15

Surge In Fallen Angels Expected Amid Economic Uncertainty

EnLink Midstream ( ($ENLC) ) just unveiled an update. EnLink Midstream, LLC has modified its Credit Agreement to exclude up to $500 million from it...

EnLink Midstream Adjusts Credit Terms and Ends GIP Agreement

Midstream Energy - Relative Quality

EnLink Midstream declares $0.1325 dividend

EnLink Midstream ( ($ENLC) ) has shared an announcement. On October 15, 2024, several changes occurred in the Manager Board with notable resignatio...

EnLink Midstream Restructures Board of Directors

RBC Capital analyst Elvira Scotto maintained a Hold rating on EnLink Midstream (ENLC – Research Report) yesterday and set a price target of $15.00....

EnLink Midstream (ENLC) Receives a Rating Update from a Top Analyst

Fallen Angels: New Downgrades End Seven Month Drought

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need...

Wingstop upgraded, Estee Lauder downgraded: Wall Street's top analyst calls

ONEOK: Growth Through Strategic Acquisitions And Dividend Stability

Here are the major earnings after the close today

ACAD

ACLS

ADTN

AEVA

ALTMW

ALTO

AMPH

AMPY

AMRK

ANGL

ANSS

APPS

ARAY

ARQT

ASPN

BBDC

BIRD

BRZE

CAPL

DUOL

EBBGF

EBBNF

EBGEF

EBRGF

ENBFF

ENBGF

ENBHF

ENBMF

ENBNF

ENBOF

ENBRF

ENNPF

EPDU

FALN

GBNXF

GPMT

HCAT

HESM

HRTG

HUBS

IIPR

IONQ

JAZZ

JOBY

KNTK

LAND

LILA

LILAK

LOPE

LUNMF

LYFT

MATV

MEOH

MKSI

MMLP

MPLX

MPLXP

MRMD

MTCH

NDLS

NEWT

NMIH

NVDA

NVGS

OCINF

ORIC

PAGP

PARA

PKCPY

RYCEF

RYCEY

SMCI

TCANF

TCENF

TCEYF

TCNCF

TERN

TNCAF

TRGP

TRPPF

TRPRF

VNDA

VOPKF

WING

Commodities

Offerings

Press Releases

EnLink Midstream Announces Pricing of $500 million of Senior Notes Due 2034

ONEOK to Acquire Medallion and Controlling Interest in EnLink from Global Infrastructure Partners in Transactions Valued at $5.9 Billion

EnLink Midstream Announces Redemption of Its 6.000% Series C Preferred Units

Dividends

EnLink Midstream Declares Quarterly Distribution

ONEOK Announces Closing of Controlling Interest in EnLink from Global Infrastructure Partners

EnLink Midstream Announces Changes to Board of Directors

ONEOK Declares Quarterly Dividend

EnLink Midstream Schedules Third Quarter 2024 Earnings Release Date

ONEOK Announces Higher Third Quarter 2024 Earnings; Increases 2024 Financial Guidance

ONEOK Announces Closing of Medallion Midstream Acquisition

Antero Midstream Corporation Common Stock

Antero Midstream

Cheniere Energy Partners, LP Common Units

Cheniere Energy Partners

DT Midstream

Enterprise Products Partners L.P. Common Stock

Enterprise Prods Partners

Energy Transfer

Frontline

Golar LNG

Hafnia

Hess Midstream

International Seaways

Kinder Morgan

Kinetik Holdings Inc. Class A Common Stock

Kinetik Holdings

Cheniere Energy

MPLX LP Common Units Representing Limited Partner Interests

New Fortress Energy Inc. - Class A Common Stock

New Fortress Energy

ONEOK

Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests

Plains All American

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