EnLink Midstream LLC (ENLC) Downgraded to Hold at Zacks Investment Research
EnLink Midstream LLC (NYSE:ENLC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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. “
Other analysts have also issued research reports about the company. Barclays PLC lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $15.00 to $16.00 in a research note on Monday, June 20th. Citigroup Inc. reaffirmed a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of EnLink Midstream in a research note on Tuesday, June 28th. Robert W. Baird raised EnLink Midstream from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $8.00 to $16.00 in a research note on Tuesday, June 28th. Royal Bank Of Canada upped their target price on EnLink Midstream from $14.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Friday, September 2nd. Finally, Credit Suisse Group AG lowered EnLink Midstream from a “neutral” rating to an “underperform” rating and set a $17.00 target price for the company. in a research note on Tuesday, September 13th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. EnLink Midstream currently has an average rating of “Hold” and an average target price of $17.00.
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Shares of EnLink Midstream (NYSE:ENLC) traded up 0.96% during mid-day trading on Monday, hitting $16.90. 421,603 shares of the stock traded hands. The stock’s market cap is $3.04 billion. The firm’s 50-day moving average is $16.47 and its 200-day moving average is $15.23. EnLink Midstream has a 52 week low of $6.41 and a 52 week high of $23.38.
A number of institutional investors have recently bought and sold shares of ENLC. JPMorgan Chase & Co. increased its position in EnLink Midstream by 10.8% in the first quarter. JPMorgan Chase & Co. now owns 917,977 shares of the company’s stock worth $10,328,000 after buying an additional 89,610 shares during the period. Cypress Wealth Advisors LLC increased its position in EnLink Midstream by 30.4% in the first quarter. Cypress Wealth Advisors LLC now owns 67,100 shares of the company’s stock worth $755,000 after buying an additional 15,625 shares during the period. UBS Group AG increased its position in EnLink Midstream by 16.1% in the first quarter. UBS Group AG now owns 273,004 shares of the company’s stock worth $3,071,000 after buying an additional 37,902 shares during the period. Groesbeck Investment Management Corp NJ purchased a new position in EnLink Midstream during the first quarter worth about $131,000. Finally, HBK Investments L P purchased a new position in EnLink Midstream during the first quarter worth about $609,000. Institutional investors and hedge funds own 25.31% of the company’s stock.
About EnLink Midstream
EnLink Midstream, LLC is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). 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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