EnLink Midstream, LLC (ENLC) Upgraded to Hold by BidaskClub
BidaskClub upgraded shares of EnLink Midstream, LLC (NYSE:ENLC) from a sell rating to a hold rating in a research note issued to investors on Friday.
A number of other research firms have also recently weighed in on ENLC. Zacks Investment Research cut EnLink Midstream from a hold rating to a strong sell rating in a report on Tuesday, July 4th. Barclays PLC reissued a hold rating and issued a $19.00 price target on shares of EnLink Midstream in a report on Friday, July 21st. Citigroup Inc. raised EnLink Midstream to a neutral rating and set a $19.00 price target for the company in a report on Wednesday, August 2nd. Royal Bank Of Canada reissued a hold rating and issued a $21.00 price target on shares of EnLink Midstream in a report on Monday, July 31st. Finally, Mitsubishi UFJ Financial Group raised EnLink Midstream from an underweight rating to a neutral rating and set a $19.00 price target for the company in a report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The stock has an average rating of Hold and a consensus target price of $18.60.
Shares of EnLink Midstream (NYSE ENLC) opened at 17.60 on Friday. The stock has a market capitalization of $3.18 billion, a PE ratio of 4400.00 and a beta of 2.62. The firm has a 50-day moving average price of $17.05 and a 200 day moving average price of $17.89. EnLink Midstream has a one year low of $14.70 and a one year high of $20.45.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Tuesday, August 1st were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, July 28th.
Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of EnLink Midstream by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after purchasing an additional 599 shares during the period. WFG Advisors LP grew its position in shares of EnLink Midstream by 11.5% in the second quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock valued at $162,000 after purchasing an additional 950 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of EnLink Midstream in the second quarter valued at $178,000. Tower Research Capital LLC TRC purchased a new stake in shares of EnLink Midstream in the first quarter valued at $206,000. Finally, Duff & Phelps Investment Management Co. grew its position in shares of EnLink Midstream by 9.1% in the second quarter. Duff & Phelps Investment Management Co. now owns 12,000 shares of the pipeline company’s stock valued at $211,000 after purchasing an additional 1,000 shares during the period. 34.79% of the stock is owned by institutional investors and hedge funds.
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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