EnLink Midstream Partners, LP (ENLK) Downgraded to “Sell” at 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, July 11th.

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 research analysts have also recently commented on the stock. BidaskClub upgraded shares of EnLink Midstream Partners, from a strong sell rating to a sell rating in a report on Tuesday, June 27th. Stifel Nicolaus upgraded shares of EnLink Midstream Partners, from a hold rating to a buy rating and set a $18.00 target price for the company in a report on Friday, June 16th. They noted that the move was a valuation call. Morgan Stanley cut shares of EnLink Midstream Partners, from an overweight rating to an equal rating and decreased their target price for the stock from $20.00 to $19.00 in a report on Thursday, June 15th. ValuEngine cut shares of EnLink Midstream Partners, from a hold rating to a sell rating in a report on Thursday, June 8th. Finally, Guggenheim assumed coverage on shares of EnLink Midstream Partners, in a report on Tuesday, April 18th. They issued a neutral rating and a $18.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $19.20.

Shares of EnLink Midstream Partners, (NYSE ENLK) opened at 15.48 on Tuesday. EnLink Midstream Partners, has a 12-month low of $15.07 and a 12-month high of $19.89. The firm’s market cap is $5.38 billion. The firm has a 50-day moving average of $16.69 and a 200-day moving average of $17.59.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 10.08%. The ex-dividend date of this dividend was Friday, July 28th. EnLink Midstream Partners,’s payout ratio is presently -503.21%.

Several institutional investors have recently added to or reduced their stakes in the stock. LVW Advisors LLC raised its position in EnLink Midstream Partners, by 0.3% in the first quarter. LVW Advisors LLC now owns 15,908 shares of the oil and gas producer’s stock worth $291,000 after buying an additional 42 shares in the last quarter. Tocqueville Asset Management L.P. raised its position in EnLink Midstream Partners, by 0.8% in the first quarter. Tocqueville Asset Management L.P. now owns 10,079 shares of the oil and gas producer’s stock worth $184,000 after buying an additional 79 shares in the last quarter. Creative Planning raised its position in EnLink Midstream Partners, by 1.7% in the first quarter. Creative Planning now owns 7,442 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 123 shares in the last quarter. Northern Trust Corp raised its position in EnLink Midstream Partners, by 2.3% in the second quarter. Northern Trust Corp now owns 14,386 shares of the oil and gas producer’s stock worth $244,000 after buying an additional 326 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its position in EnLink Midstream Partners, by 1.4% in the second quarter. Hodges Capital Management Inc. now owns 29,650 shares of the oil and gas producer’s stock worth $503,000 after buying an additional 400 shares in the last quarter. 42.51% of the stock is currently owned by institutional investors.

EnLink Midstream Partners, Company Profile

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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