EnLink Midstream, LLC (ENLC) Stock Rating Lowered by Zacks Investment Research
EnLink Midstream, LLC (NYSE:ENLC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 recently issued reports about the company. UBS AG raised EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, October 24th. Royal Bank Of Canada reissued a “hold” rating and set a $21.00 target price on shares of EnLink Midstream in a research note on Monday, July 31st. Barclays PLC reissued a “hold” rating and set a $19.00 target price on shares of EnLink Midstream in a research note on Friday, July 21st. Jefferies Group LLC raised EnLink Midstream from an “underperform” rating to a “hold” rating and lowered their target price for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. Finally, BidaskClub raised EnLink Midstream from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. EnLink Midstream currently has an average rating of “Hold” and an average target price of $18.83.
EnLink Midstream (NYSE ENLC) traded down 0.29% during mid-day trading on Tuesday, hitting $15.50. 463,415 shares of the company traded hands. The company’s 50-day moving average price is $16.88 and its 200 day moving average price is $17.27. 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 $2.80 billion, a price-to-earnings ratio of 3875.00 and a beta of 2.59.
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A number of institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC lifted its holdings in EnLink Midstream by 0.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 16,519 shares of the pipeline company’s stock valued at $291,000 after purchasing an additional 109 shares during the last quarter. Northern Trust Corp lifted its holdings in EnLink Midstream by 0.4% during the 2nd 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. Ameriprise Financial Inc. lifted its holdings in EnLink Midstream by 3.1% during the 1st quarter. Ameriprise Financial Inc. now owns 13,742 shares of the pipeline company’s stock valued at $266,000 after purchasing an additional 412 shares during the last quarter. KCG Holdings Inc. lifted its holdings in EnLink Midstream by 3.4% during the 1st quarter. KCG Holdings Inc. now owns 16,151 shares of the pipeline company’s stock valued at $313,000 after purchasing an additional 526 shares during the last quarter. Finally, Signature Financial Management Inc. lifted its holdings in EnLink Midstream by 2.5% during the 2nd quarter. Signature Financial Management Inc. now owns 23,725 shares of the pipeline company’s stock valued at $418,000 after purchasing an additional 575 shares during the last quarter. 34.48% of the stock is owned by institutional investors and hedge funds.
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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