EnLink Midstream Partners, LP (ENLK) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of EnLink Midstream Partners, LP (NYSE:ENLK) from a hold rating to a sell rating in a research note released on Tuesday morning.

According to Zacks, “EnLink Midstream Partners LP is a midstream energy company. It focuses on providing midstream energy services, including gathering, processing, transmission and marketing, to producers of natural gas, natural gas liquids and crude oil. The company also provides crude oil, condensate, and brine services to producers. It operates in the Gulf Coast region of the United States. EnLink Midstream Partners LP, formerly known as Crosstex Energy L.P., is based in Dallas, Texas. “

Several other equities analysts also recently issued reports on ENLK. BidaskClub upgraded shares of EnLink Midstream Partners, from a strong sell rating to a sell rating in a report on Tuesday, June 27th. ValuEngine downgraded shares of EnLink Midstream Partners, from a hold rating to a sell rating in a report on Thursday, June 8th. Guggenheim began coverage on shares of EnLink Midstream Partners, in a report on Tuesday, April 18th. They set a neutral rating and a $18.00 price objective on the stock. Morgan Stanley downgraded shares of EnLink Midstream Partners, from an overweight rating to an equal rating and cut their price objective for the company from $20.00 to $19.00 in a report on Thursday, June 15th. Finally, Stifel Nicolaus upgraded shares of EnLink Midstream Partners, from a hold rating to a buy rating and set a $18.00 price objective on the stock in a report on Friday, June 16th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. EnLink Midstream Partners, currently has a consensus rating of Hold and a consensus target price of $19.09.

Shares of EnLink Midstream Partners, (NYSE ENLK) traded up 0.47% during mid-day trading on Tuesday, hitting $17.20. 350,996 shares of the stock were exchanged. EnLink Midstream Partners, has a 52-week low of $15.07 and a 52-week high of $19.89. The firm’s market cap is $5.96 billion. The stock has a 50-day moving average price of $16.75 and a 200 day moving average price of $17.85.

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Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of EnLink Midstream Partners, by 222.3% in the fourth quarter. Renaissance Technologies LLC now owns 860,300 shares of the oil and gas producer’s stock valued at $15,847,000 after buying an additional 593,400 shares during the period. Bank of America Corp DE increased its position in shares of EnLink Midstream Partners, by 54.0% in the first quarter. Bank of America Corp DE now owns 1,660,821 shares of the oil and gas producer’s stock valued at $30,393,000 after buying an additional 582,364 shares during the period. Infrastructure Capital Advisors LLC raised its stake in EnLink Midstream Partners, by 101.3% in the first quarter. Infrastructure Capital Advisors LLC now owns 956,565 shares of the oil and gas producer’s stock valued at $17,505,000 after buying an additional 481,320 shares in the last quarter. ING Groep NV bought a new stake in EnLink Midstream Partners, during the first quarter valued at approximately $8,693,000. Finally, Edge Asset Management Inc. raised its stake in EnLink Midstream Partners, by 13.4% in the first quarter. Edge Asset Management Inc. now owns 3,370,194 shares of the oil and gas producer’s stock valued at $61,675,000 after buying an additional 398,805 shares in the last quarter. Institutional investors own 42.71% of the company’s stock.

About EnLink Midstream Partners,

EnLink Midstream Partners, LP is a midstream company. The Company’s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP (the Operating Partnership) and the subsidiaries of the Operating Partnership. The Company operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate.

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