EnLink Midstream LLC (NYSE:ENLC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
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. “
A number of other brokerages have also recently weighed in on ENLC. Jefferies Group restated a “hold” rating and set a $16.00 price objective on shares of EnLink Midstream in a research note on Sunday. Goldman Sachs Group Inc. lowered EnLink Midstream from a “neutral” rating to a “sell” rating and reduced their target price for the company from $15.00 to $14.00 in a research report on Monday, September 19th. Credit Suisse Group AG lowered EnLink Midstream from a “neutral” rating to an “underperform” rating and set a $17.00 target price on the stock. in a research report on Tuesday, September 13th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $19.00 target price (up from $14.00) on shares of EnLink Midstream in a research report on Sunday, September 4th. Finally, Royal Bank Of Canada upped their target price on EnLink Midstream from $14.00 to $19.00 and gave the company a “sector perform” rating in a research report on Friday, September 2nd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. EnLink Midstream has a consensus rating of “Hold” and a consensus target price of $17.00.
Shares of EnLink Midstream (NYSE:ENLC) traded up 0.96% on Monday, reaching $16.90. The company’s stock had a trading volume of 421,603 shares. The firm has a 50 day moving average price of $16.47 and a 200-day moving average price of $15.23. The stock’s market cap is $3.04 billion. EnLink Midstream has a 12-month low of $6.41 and a 12-month high of $23.38.
A number of hedge funds have recently bought and sold shares of ENLC. Cypress Wealth Advisors LLC raised 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 period. Westwood Holdings Group Inc. raised its stake in EnLink Midstream by 20.8% in the second quarter. Westwood Holdings Group Inc. now owns 445,826 shares of the company’s stock valued at $7,093,000 after buying an additional 76,732 shares during the period. Cubist Systematic Strategies LLC raised its stake in EnLink Midstream by 46.1% in the second quarter. Cubist Systematic Strategies LLC now owns 20,340 shares of the company’s stock valued at $324,000 after buying an additional 6,417 shares during the period. Landscape Capital Management L.L.C. bought a new stake in EnLink Midstream during the second quarter valued at approximately $458,000. Finally, Eagle Global Advisors LLC raised its stake in EnLink Midstream by 6.6% in the second quarter. Eagle Global Advisors LLC now owns 1,345,772 shares of the company’s stock valued at $21,411,000 after buying an additional 82,800 shares during the period. 25.31% of the stock is currently owned by hedge funds and other institutional investors.
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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