Mizuho Reinstates EnLink Midstream, LLC (ENLC) at Neutral

Mizuho analyst Gabriel Moreen reinstates coverage on EnLink Midstream, LLC (NYSE: ENLC) with a Neutral rating and a price target of $15.00.

The analyst comments "We update our ENLC numbers ahead of 3Q24 earnings release (AMC Wednesday 11/6). ENLC will not hold a conference call due to the pending potential acquisition of remaining common units outstanding by OKE (Neutral $85). Our PT remains $15/unit based on stand-alone valuation of the company using an 8.5x EV/EBITDA multiple on 2026 estimates. We believe this valuation is generally comparable to an eventual purchase price from OKE, which purchased 43% of common units for $14.90/unit plus $300mn for 100% for interests of ENLC's managing member."

For an analyst ratings summary and ratings history on EnLink Midstream, LLC click here. For more ratings news on EnLink Midstream, LLC click here.

Shares of EnLink Midstream, LLC closed at $14.84 yesterday.

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