EnLink Midstream (NYSE:ENLC) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of EnLink Midstream (NYSE:ENLC) in a report released on Tuesday. The firm issued a hold rating on the pipeline company’s stock.

ENLC has been the subject of a number of other reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Finally, US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, EnLink Midstream has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Price Performance

NYSE ENLC opened at $14.56 on Tuesday. The company has a 50 day moving average price of $14.56 and a two-hundred day moving average price of $14.65. EnLink Midstream has a 12-month low of $11.83 and a 12-month high of $16.40. The stock has a market capitalization of $6.65 billion, a PE ratio of 69.33 and a beta of 2.43. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. increased its position in EnLink Midstream by 5.6% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 10,958,740 shares of the pipeline company’s stock worth $155,066,000 after acquiring an additional 581,493 shares during the period. Dimensional Fund Advisors LP grew its position in EnLink Midstream by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,869,951 shares of the pipeline company’s stock worth $97,212,000 after purchasing an additional 69,089 shares during the last quarter. Merewether Investment Management LP bought a new position in shares of EnLink Midstream during the 3rd quarter worth about $64,477,000. Blackstone Inc. increased its holdings in shares of EnLink Midstream by 36.1% during the 4th quarter. Blackstone Inc. now owns 4,349,618 shares of the pipeline company’s stock worth $61,547,000 after purchasing an additional 1,153,872 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in shares of EnLink Midstream by 31.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 4,167,451 shares of the pipeline company’s stock valued at $58,969,000 after buying an additional 991,887 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

EnLink Midstream Company Profile

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.