Zacks Investment Research upgraded shares of EnLink Midstream LLC (NYSE:ENLC) from a hold rating to a buy rating in a report published on Tuesday. The firm currently has $18.00 price target on the stock.
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. “
ENLC has been the subject of a number of other reports. Barclays PLC raised their target price on shares of EnLink Midstream from $16.00 to $17.00 and gave the company an equal weight rating in a report on Wednesday, August 17th. Mitsubishi UFJ Financial Group lowered shares of EnLink Midstream from a neutral rating to an underweight rating in a research note on Friday, June 10th. Wunderlich lifted their price objective on shares of EnLink Midstream from $16.00 to $18.00 and gave the stock a hold rating in a research note on Wednesday, August 31st. RBC Capital Markets reaffirmed a sector perform rating and set a $19.00 price objective (up from $14.00) on shares of EnLink Midstream in a research note on Sunday, September 4th. Finally, Credit Suisse Group AG lowered shares of EnLink Midstream from a neutral rating to an underperform rating and set a $17.00 price objective for the company. in a research note on Tuesday, September 13th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $16.92.
Shares of EnLink Midstream (NYSE:ENLC) opened at 15.99 on Tuesday. The company’s market capitalization is $2.88 billion. The company’s 50-day moving average is $16.51 and its 200-day moving average is $15.06. EnLink Midstream has a 12-month low of $6.41 and a 12-month high of $23.38.
Hedge funds have recently added to or reduced their stakes in the stock. Cypress Wealth Advisors LLC increased its stake in EnLink Midstream by 8.8% in the second quarter. Cypress Wealth Advisors LLC now owns 73,000 shares of the company’s stock valued at $1,161,000 after buying an additional 5,900 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of EnLink Midstream by 20.8% in the second quarter. Westwood Holdings Group Inc. now owns 445,826 shares of the company’s stock worth $7,093,000 after buying an additional 76,732 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of EnLink Midstream by 46.1% in the second quarter. Cubist Systematic Strategies LLC now owns 20,340 shares of the company’s stock worth $324,000 after buying an additional 6,417 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of EnLink Midstream during the second quarter worth approximately $458,000. Finally, Eagle Global Advisors LLC increased its position in shares of EnLink Midstream by 6.6% in the second quarter. Eagle Global Advisors LLC now owns 1,345,772 shares of the company’s stock worth $21,411,000 after buying an additional 82,800 shares in the last quarter. Hedge funds and other institutional investors own 25.31% of the company’s stock.
EnLink Midstream Company Profile
EnLink Midstream, LLC is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). 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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