EnLink Midstream, LLC (ENLC) Stock Rating Upgraded by Zacks Investment Research
EnLink Midstream, LLC (NYSE:ENLC) was upgraded by Zacks Investment Research from a “strong sell” 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. “
A number of other analysts have also commented on the company. BidaskClub lowered EnLink Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Barclays PLC reaffirmed a “hold” rating and issued a $19.00 target price on shares of EnLink Midstream in a research report on Friday, July 21st. Mitsubishi UFJ Financial Group raised EnLink Midstream from an “underweight” rating to a “neutral” rating and set a $19.00 target price for the company in a research report on Friday. Guggenheim began coverage on EnLink Midstream in a research report on Monday, April 17th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Jefferies Group LLC raised EnLink Midstream from an “underperform” rating to a “hold” rating and decreased their target price for the company from $16.00 to $15.00 in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.55.
EnLink Midstream (NYSE:ENLC) traded down 1.15% on Monday, hitting $17.25. The company had a trading volume of 234,393 shares. EnLink Midstream has a one year low of $14.70 and a one year high of $20.45. The company has a market capitalization of $3.11 billion, a P/E ratio of 522.73 and a beta of 2.58. The stock’s 50-day moving average price is $17.24 and its 200 day moving average price is $18.25.
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Hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP raised its position in EnLink Midstream by 10.8% in the first quarter. Engineers Gate Manager LP now owns 47,409 shares of the pipeline company’s stock worth $920,000 after buying an additional 4,623 shares during the last quarter. Infrastructure Capital Advisors LLC raised its position in EnLink Midstream by 99.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 200,949 shares of the pipeline company’s stock worth $3,898,000 after buying an additional 100,181 shares during the last quarter. Signature Financial Management Inc. purchased a new position in EnLink Midstream during the first quarter worth about $449,000. Eagle Global Advisors LLC raised its position in EnLink Midstream by 158.3% in the first quarter. Eagle Global Advisors LLC now owns 3,534,879 shares of the pipeline company’s stock worth $68,577,000 after buying an additional 2,166,379 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in EnLink Midstream by 26.1% in the first quarter. Catalyst Capital Advisors LLC now owns 713,451 shares of the pipeline company’s stock worth $13,841,000 after buying an additional 147,646 shares during the last quarter. 33.48% 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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