EnLink Midstream, LLC (ENLC) Earns Neutral Rating from Analysts at Seaport Global Securities

Seaport Global Securities began coverage on shares of EnLink Midstream, LLC (NYSE:ENLC) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $16.00 price target on the pipeline company’s stock.

Several other equities research analysts have also issued reports on the stock. Royal Bank Of Canada reaffirmed a hold rating and issued a $21.00 price objective on shares of EnLink Midstream in a research note on Monday, July 31st. Barclays PLC reaffirmed a hold rating and issued a $19.00 price objective on shares of EnLink Midstream in a research note on Friday, July 21st. Jefferies Group LLC raised shares of EnLink Midstream from an underperform rating to a hold rating and reduced their price objective for the company from $16.00 to $15.00 in a research note on Wednesday, July 12th. BidaskClub raised shares of EnLink Midstream from a sell rating to a hold rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research raised shares of EnLink Midstream from a strong sell rating to a hold rating in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. EnLink Midstream presently has an average rating of Hold and a consensus price target of $18.80.

Shares of EnLink Midstream (ENLC) traded down 1.289% on Tuesday, hitting $17.225. The company’s stock had a trading volume of 204,619 shares. EnLink Midstream has a 52 week low of $14.70 and a 52 week high of $20.45. The stock’s 50 day moving average is $17.22 and its 200-day moving average is $17.58. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 4306.250 and a beta of 2.59.

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Several large investors have recently bought and sold shares of the company. Chickasaw Capital Management LLC increased its holdings in shares of EnLink Midstream by 0.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 15,656,055 shares of the pipeline company’s stock worth $275,547,000 after purchasing an additional 100,025 shares during the period. Eagle Global Advisors LLC increased its holdings in shares of EnLink Midstream by 5.9% during the 2nd quarter. Eagle Global Advisors LLC now owns 3,741,870 shares of the pipeline company’s stock worth $65,857,000 after purchasing an additional 206,991 shares during the period. Tortoise Capital Advisors L.L.C. increased its holdings in shares of EnLink Midstream by 3.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 3,461,842 shares of the pipeline company’s stock worth $60,928,000 after purchasing an additional 113,842 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of EnLink Midstream by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,153,393 shares of the pipeline company’s stock worth $37,899,000 after purchasing an additional 245,455 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of EnLink Midstream by 33.2% during the 2nd quarter. Principal Financial Group Inc. now owns 2,101,858 shares of the pipeline company’s stock worth $36,993,000 after purchasing an additional 523,482 shares during the period. Institutional investors own 34.55% of the company’s stock.

About EnLink Midstream

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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