EnLink Midstream (NYSE:ENLC) Now Covered by StockNews.com

StockNews.com started coverage on shares of EnLink Midstream (NYSE:ENLC) in a research note issued to investors on Saturday. The firm issued a hold rating on the pipeline company’s stock.

A number of other equities research analysts have also commented on the stock. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, November 21st. Mizuho reiterated a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. Finally, US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Trading Up 2.9 %

Shares of EnLink Midstream stock opened at $14.56 on Friday. EnLink Midstream has a 1 year low of $11.55 and a 1 year high of $16.40. The firm has a market cap of $6.65 billion, a PE ratio of 69.33 and a beta of 2.43. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50 day simple moving average of $14.61 and a two-hundred day simple moving average of $14.45.

Institutional Investors Weigh In On EnLink Midstream

Several institutional investors and hedge funds have recently modified their holdings of ENLC. Sanctuary Advisors LLC purchased a new position in EnLink Midstream during the 2nd quarter valued at about $384,000. Exchange Traded Concepts LLC lifted its position in EnLink Midstream by 21.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 529,060 shares of the pipeline company’s stock valued at $7,677,000 after acquiring an additional 94,311 shares during the period. Raymond James & Associates lifted its position in EnLink Midstream by 12.0% during the 3rd quarter. Raymond James & Associates now owns 176,044 shares of the pipeline company’s stock valued at $2,554,000 after acquiring an additional 18,805 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in EnLink Midstream by 32.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock valued at $48,236,000 after acquiring an additional 812,767 shares during the period. Finally, Segment Wealth Management LLC lifted its position in EnLink Midstream by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 143,869 shares of the pipeline company’s stock valued at $2,088,000 after acquiring an additional 6,265 shares during the period. 45.87% of the stock is owned by hedge funds and other institutional investors.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It 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.