EnLink Midstream Partners (ENLK) Downgraded to Sell at Zacks Investment Research

EnLink Midstream Partners (NYSE:ENLK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

According to Zacks, “EnLink Midstream Partners LP is a midstream energy company. It focuses on providing midstream energy services, including gathering, processing, transmission and marketing, to producers of natural gas, natural gas liquids and crude oil. The company also provides crude oil, condensate, and brine services to producers. It operates in the Gulf Coast region of the United States. EnLink Midstream Partners LP, formerly known as Crosstex Energy L.P., is based in Dallas, Texas. “

A number of other analysts have also recently weighed in on ENLK. BidaskClub cut shares of EnLink Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. UBS Group raised shares of EnLink Midstream Partners from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, October 24th. Citigroup decreased their target price on shares of EnLink Midstream Partners from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. Morgan Stanley boosted their target price on shares of EnLink Midstream Partners from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, November 17th. Finally, Goldman Sachs Group initiated coverage on shares of EnLink Midstream Partners in a research note on Friday, November 17th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. EnLink Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $18.18.

EnLink Midstream Partners (ENLK) traded up $0.62 during midday trading on Monday, hitting $16.55. 849,352 shares of the company’s stock were exchanged, compared to its average volume of 803,797. The company has a market capitalization of $5,780.00, a PE ratio of -71.96 and a beta of 2.08. EnLink Midstream Partners has a 12-month low of $14.43 and a 12-month high of $19.59. The company has a current ratio of 0.85, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71.

Several large investors have recently modified their holdings of ENLK. Alps Advisors Inc. lifted its holdings in shares of EnLink Midstream Partners by 12.0% during the third quarter. Alps Advisors Inc. now owns 13,257,515 shares of the oil and gas producer’s stock worth $222,196,000 after purchasing an additional 1,417,520 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of EnLink Midstream Partners by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 3,141,051 shares of the oil and gas producer’s stock worth $51,607,000 after purchasing an additional 620,380 shares during the period. Bank of Montreal Can lifted its holdings in shares of EnLink Midstream Partners by 37.5% during the fourth quarter. Bank of Montreal Can now owns 2,189,225 shares of the oil and gas producer’s stock worth $33,648,000 after purchasing an additional 597,000 shares during the period. Center Coast Capital Advisors LP lifted its holdings in shares of EnLink Midstream Partners by 3.4% during the third quarter. Center Coast Capital Advisors LP now owns 14,024,298 shares of the oil and gas producer’s stock worth $235,047,000 after purchasing an additional 461,130 shares during the period. Finally, Global X Management Co. LLC lifted its holdings in shares of EnLink Midstream Partners by 31.3% during the fourth quarter. Global X Management Co. LLC now owns 1,674,394 shares of the oil and gas producer’s stock worth $25,735,000 after purchasing an additional 399,014 shares during the period. Institutional investors own 41.63% of the company’s stock.

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About EnLink Midstream Partners

EnLink Midstream Partners, LP is a midstream company. The Company’s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP (the Operating Partnership) and the subsidiaries of the Operating Partnership. The Company operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate.

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