Today, EnLink Midstream LLC (ENLC) Lowered by The Zacks Investment Research to Sell

Today, EnLink Midstream LLC (ENLC) Lowered by The Zacks Investment Research to Sell
EnLink Midstream LLC (NYSE:ENLC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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. “

Other equities research analysts have also recently issued reports about the company. Barclays PLC increased their price objective on EnLink Midstream from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, August 17th. Royal Bank Of Canada increased their price objective on EnLink Midstream from $14.00 to $19.00 and gave the company a “sector perform” rating in a report on Friday, September 2nd. Credit Suisse Group AG lowered EnLink Midstream from a “neutral” rating to an “underperform” rating and set a $17.00 price objective on the stock. in a report on Tuesday, September 13th. Jefferies Group reissued a “hold” rating and issued a $16.00 price objective on shares of EnLink Midstream in a report on Sunday, October 16th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $19.00 price objective (up from $14.00) on shares of EnLink Midstream in a report on Sunday, September 4th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.00.

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were issued a $0.255 dividend. The ex-dividend date was Thursday, October 27th. This represents a $1.02 dividend on an annualized basis and a yield of 5.65%. EnLink Midstream’s dividend payout ratio (DPR) is presently -27.35%.

Hedge funds have recently bought and sold shares of the stock. Chickasaw Capital Management LLC boosted its position in EnLink Midstream by 3.5% in the third quarter. Chickasaw Capital Management LLC now owns 15,187,625 shares of the company’s stock valued at $254,393,000 after buying an additional 507,965 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in EnLink Midstream by 10.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 2,731,629 shares of the company’s stock valued at $43,460,000 after buying an additional 266,469 shares during the last quarter. Lubar & Co. Inc boosted its position in EnLink Midstream by 76.2% in the third quarter. Lubar & Co. Inc now owns 1,884,440 shares of the company’s stock valued at $31,564,000 after buying an additional 814,998 shares during the last quarter. JPMorgan Chase & Co. boosted its position in EnLink Midstream by 61.6% in the second quarter. JPMorgan Chase & Co. now owns 1,483,464 shares of the company’s stock valued at $23,602,000 after buying an additional 565,487 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in EnLink Midstream by 19.7% in the third quarter. Principal Financial Group Inc. now owns 1,414,482 shares of the company’s stock valued at $23,693,000 after buying an additional 232,937 shares during the last quarter. 27.22% of the stock is owned by institutional investors and hedge funds.

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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