EnLink Midstream, LLC (ENLC) Cut to “Strong Sell” at BidaskClub

BidaskClub cut shares of EnLink Midstream, LLC (NYSE:ENLC) from a sell rating to a strong sell rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada reiterated a hold rating and issued a $21.00 target price on shares of EnLink Midstream in a report on Monday, July 31st. Barclays PLC reiterated a hold rating and issued a $19.00 target price on shares of EnLink Midstream in a report on Friday, July 21st. Jefferies Group LLC upgraded EnLink Midstream from an underperform rating to a hold rating and lowered their target price for the stock from $16.00 to $15.00 in a report on Wednesday, July 12th. Robert W. Baird reiterated a hold rating and issued a $21.00 target price on shares of EnLink Midstream in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded EnLink Midstream from a strong sell rating to a hold rating in a report on Monday, August 7th. Three analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $18.80.

EnLink Midstream (NYSE ENLC) opened at 17.20 on Friday. The company has a market cap of $3.11 billion, a P/E ratio of 4300.00 and a beta of 2.59. EnLink Midstream has a 12-month low of $14.70 and a 12-month high of $20.45. The firm has a 50-day moving average price of $17.17 and a 200-day moving average price of $17.59.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in shares of EnLink Midstream by 11.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock worth $100,000 after purchasing an additional 599 shares during the last quarter. WFG Advisors LP lifted its stake in shares of EnLink Midstream by 11.5% during the 2nd quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock worth $162,000 after purchasing an additional 950 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of EnLink Midstream during the 2nd quarter worth $178,000. Tower Research Capital LLC TRC purchased a new stake in shares of EnLink Midstream during the 1st quarter worth $206,000. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of EnLink Midstream by 9.1% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 12,000 shares of the pipeline company’s stock worth $211,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 34.55% of the company’s stock.

EnLink Midstream Company Profile

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). 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.

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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