EnLink Midstream (ENLC) Downgraded to Hold at Stifel Nicolaus
Stifel Nicolaus cut shares of EnLink Midstream (NYSE:ENLC) from a buy rating to a hold rating in a report released on Monday, BenzingaRatingsTable reports. They currently have $13.00 price target on the pipeline company’s stock.
A number of other research firms have also issued reports on ENLC. Zacks Investment Research lowered EnLink Midstream from a buy rating to a hold rating in a research report on Wednesday, March 20th. Barclays started coverage on EnLink Midstream in a research report on Friday, March 22nd. They issued an equal weight rating and a $14.00 price target for the company. ValuEngine upgraded EnLink Midstream from a sell rating to a hold rating in a research report on Monday, April 1st. Citigroup started coverage on EnLink Midstream in a research report on Tuesday, March 12th. They issued a buy rating and a $13.00 price target for the company. Finally, Mitsubishi UFJ Financial Group upgraded EnLink Midstream from a neutral rating to an overweight rating in a research report on Wednesday, February 20th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $16.15.
NYSE:ENLC opened at $12.52 on Monday. EnLink Midstream has a 12 month low of $8.90 and a 12 month high of $18.40. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.81.
In other EnLink Midstream news, major shareholder Goldman Sachs Group Inc acquired 24,791 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was bought at an average cost of $10.86 per share, for a total transaction of $269,230.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.45% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP lifted its stake in EnLink Midstream by 229.9% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 906,700 shares of the pipeline company’s stock worth $8,596,000 after purchasing an additional 631,900 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in EnLink Midstream during the first quarter worth $13,717,000. Tortoise Index Solutions LLC lifted its stake in EnLink Midstream by 98.9% during the fourth quarter. Tortoise Index Solutions LLC now owns 70,297 shares of the pipeline company’s stock worth $667,000 after purchasing an additional 34,957 shares in the last quarter. Triangle Securities Wealth Management acquired a new position in EnLink Midstream during the first quarter worth $362,000. Finally, Walnut Private Equity Partners LLC lifted its stake in EnLink Midstream by 35.5% during the fourth quarter. Walnut Private Equity Partners LLC now owns 232,297 shares of the pipeline company’s stock worth $2,204,000 after purchasing an additional 60,865 shares in the last quarter. Institutional investors own 33.57% of the company’s stock.
About EnLink Midstream
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.
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