Zacks Investment Research upgraded shares of EnLink Midstream (NYSE:ENLC) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas. “
ENLC has been the subject of several other reports. Credit Suisse Group initiated coverage on shares of EnLink Midstream in a report on Thursday, January 4th. They issued a neutral rating and a $19.00 target price for the company. Bank of America initiated coverage on shares of EnLink Midstream in a report on Tuesday, January 9th. They issued a neutral rating for the company. Robert W. Baird set a $21.00 target price on shares of EnLink Midstream and gave the stock a hold rating in a report on Friday, November 17th. Goldman Sachs raised shares of EnLink Midstream from a sell rating to a neutral rating in a report on Friday, November 17th. Finally, UBS decreased their target price on shares of EnLink Midstream from $20.00 to $19.00 and set a buy rating for the company in a report on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $18.07.
EnLink Midstream (NYSE ENLC) opened at $15.35 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2,704.20, a PE ratio of 13.23 and a beta of 2.58. EnLink Midstream has a twelve month low of $14.25 and a twelve month high of $20.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ENLC. Northern Trust Corp raised its holdings in shares of EnLink Midstream by 0.4% during the second quarter. Northern Trust Corp now owns 102,348 shares of the pipeline company’s stock valued at $1,802,000 after purchasing an additional 386 shares during the last quarter. Vanguard Group Inc. grew its position in EnLink Midstream by 19.9% during the second quarter. Vanguard Group Inc. now owns 239,377 shares of the pipeline company’s stock valued at $4,213,000 after buying an additional 39,809 shares during the period. State Street Corp grew its position in EnLink Midstream by 7.0% during the second quarter. State Street Corp now owns 104,852 shares of the pipeline company’s stock valued at $1,846,000 after buying an additional 6,851 shares during the period. The Manufacturers Life Insurance Company grew its position in EnLink Midstream by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after buying an additional 599 shares during the period. Finally, Nationwide Fund Advisors grew its position in EnLink Midstream by 397.6% during the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock valued at $207,000 after buying an additional 9,599 shares during the period. 33.66% of the stock is owned by hedge funds and other institutional investors.
EnLink Midstream Company Profile
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.
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