EnLink Midstream (NYSE:ENLC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a research report report published on Tuesday. The brokerage issued a hold rating on the pipeline company’s stock.

EnLink Midstream Trading Up 2.9 %

EnLink Midstream stock opened at $14.56 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The firm has a 50-day moving average price of $14.56 and a two-hundred day moving average price of $14.73. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43. EnLink Midstream has a 52-week low of $11.83 and a 52-week high of $16.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENLC. Bank of America Corp DE boosted its stake in EnLink Midstream by 586.0% during the 4th quarter. Bank of America Corp DE now owns 3,266,206 shares of the pipeline company’s stock valued at $46,217,000 after purchasing an additional 2,790,050 shares during the period. Pentwater Capital Management LP acquired a new position in EnLink Midstream during the 4th quarter valued at about $36,436,000. Westwood Holdings Group Inc. boosted its holdings in shares of EnLink Midstream by 67.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,682,041 shares of the pipeline company’s stock valued at $52,101,000 after acquiring an additional 1,482,164 shares in the last quarter. Blackstone Inc. increased its stake in shares of EnLink Midstream by 36.1% during the fourth quarter. Blackstone Inc. now owns 4,349,618 shares of the pipeline company’s stock valued at $61,547,000 after acquiring an additional 1,153,872 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of EnLink Midstream by 85.4% during the fourth quarter. Two Sigma Advisers LP now owns 2,189,221 shares of the pipeline company’s stock valued at $30,977,000 after acquiring an additional 1,008,200 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.