Zacks Investment Research downgraded shares of EnLink Midstream LLC (NYSE:ENLC) from a buy rating to a hold rating in a research note released on Monday morning.
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 increased their price target on EnLink Midstream from $16.00 to $17.00 and gave the stock an equal weight rating in a report on Wednesday, August 17th. Wunderlich raised their target price on EnLink Midstream from $16.00 to $18.00 and gave the company a hold rating in a research note on Wednesday, August 31st. RBC Capital Markets restated a sector perform rating and issued a $19.00 target price (up from $14.00) on shares of EnLink Midstream in a research note on Sunday, September 4th. Credit Suisse Group AG downgraded EnLink Midstream from a neutral rating to an underperform rating and set a $17.00 target price for the company. in a research note on Tuesday, September 13th. Finally, Royal Bank Of Canada raised their target price on EnLink Midstream from $14.00 to $19.00 and gave the company a sector perform rating in a research note on Friday, September 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. EnLink Midstream has an average rating of Hold and a consensus price target of $17.00.
Shares of EnLink Midstream (NYSE:ENLC) traded down 2.66% during trading on Monday, reaching $16.45. The company’s stock had a trading volume of 94,958 shares. The firm’s market cap is $2.96 billion. The stock’s 50 day moving average price is $16.46 and its 200-day moving average price is $15.34. EnLink Midstream has a 12 month low of $6.41 and a 12 month high of $23.38.
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in EnLink Midstream by 10.8% in the first quarter. JPMorgan Chase & Co. now owns 917,977 shares of the company’s stock valued at $10,328,000 after buying an additional 89,610 shares in the last quarter. Cypress Wealth Advisors LLC boosted its stake in EnLink Midstream by 30.4% in the first quarter. Cypress Wealth Advisors LLC now owns 67,100 shares of the company’s stock worth $755,000 after buying an additional 15,625 shares during the period. UBS Group AG boosted its stake in EnLink Midstream by 16.1% in the first quarter. UBS Group AG now owns 273,004 shares of the company’s stock worth $3,071,000 after buying an additional 37,902 shares during the period. Groesbeck Investment Management Corp NJ bought a new stake in EnLink Midstream during the first quarter worth approximately $131,000. Finally, HBK Investments L P bought a new stake in EnLink Midstream during the first quarter worth approximately $609,000. 25.31% of the stock is currently owned by hedge funds and other institutional investors.
About EnLink Midstream
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.