BidaskClub Upgrades EnLink Midstream, LLC (ENLC) to Sell
EnLink Midstream, LLC (NYSE:ENLC) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.
Several other analysts have also issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and set a $21.00 price target on shares of EnLink Midstream in a report on Friday, April 21st. Credit Suisse Group boosted their price target on EnLink Midstream from $18.00 to $19.00 and gave the company an “underperform” rating in a report on Friday, April 7th. Guggenheim started coverage on EnLink Midstream in a report on Monday, April 17th. They set a “neutral” rating and a $18.00 price target for the company. Janney Montgomery Scott started coverage on EnLink Midstream in a report on Friday, March 10th. They set a “neutral” rating and a $21.00 price target for the company. Finally, TheStreet raised EnLink Midstream from a “d” rating to a “c-” rating in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.18.
Shares of EnLink Midstream (NYSE:ENLC) traded up 4.95% on Friday, reaching $16.95. The company’s stock had a trading volume of 419,239 shares. The stock has a 50-day moving average of $17.32 and a 200 day moving average of $18.53. The company’s market cap is $3.06 billion. EnLink Midstream has a 52-week low of $14.70 and a 52-week high of $20.45.
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A number of hedge funds and other institutional investors have recently made changes to their positions in ENLC. Two Sigma Investments LP boosted its position in shares of EnLink Midstream by 738.6% in the fourth quarter. Two Sigma Investments LP now owns 98,859 shares of the pipeline company’s stock valued at $1,883,000 after buying an additional 87,070 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of EnLink Midstream by 2,201.2% in the first quarter. Great West Life Assurance Co. Can now owns 134,206 shares of the pipeline company’s stock valued at $2,605,000 after buying an additional 128,374 shares during the period. Renaissance Technologies LLC boosted its position in shares of EnLink Midstream by 25.1% in the fourth quarter. Renaissance Technologies LLC now owns 186,532 shares of the pipeline company’s stock valued at $3,553,000 after buying an additional 37,445 shares during the period. Hollencrest Securities LLC purchased a new position in shares of EnLink Midstream during the first quarter valued at about $258,000. Finally, Signature Financial Management Inc. purchased a new position in shares of EnLink Midstream during the first quarter valued at about $449,000. 33.01% of the stock is currently owned by institutional investors.
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.
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