EnLink Midstream, LLC (NYSE:ENLC) Raised to Neutral at Mitsubishi UFJ Financial Group

EnLink Midstream, LLC (NYSE:ENLC) was upgraded by Mitsubishi UFJ Financial Group from an “underweight” rating to a “neutral” rating in a research note issued to investors on Friday, August 4th. The brokerage currently has a $19.00 target price on the pipeline company’s stock. Mitsubishi UFJ Financial Group’s price objective indicates a potential upside of 16.21% from the stock’s previous close.

ENLC has been the topic of a number of other reports. BidaskClub cut EnLink Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Barclays PLC restated a “hold” rating and set a $19.00 target price on shares of EnLink Midstream in a report on Friday, July 21st. Credit Suisse Group increased their target price on EnLink Midstream from $18.00 to $19.00 and gave the stock an “underperform” rating in a report on Friday, April 7th. Guggenheim initiated coverage on EnLink Midstream in a report on Monday, April 17th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, Jefferies Group LLC upgraded EnLink Midstream from an “underperform” rating to a “hold” rating and decreased their target price for the stock from $16.00 to $15.00 in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $18.55.

Shares of EnLink Midstream (ENLC) traded up 0.93% during trading on Friday, hitting $16.35. 277,306 shares of the stock traded hands. The firm’s 50-day moving average price is $17.38 and its 200-day moving average price is $18.11. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 4087.50 and a beta of 2.58. EnLink Midstream has a 52 week low of $14.70 and a 52 week high of $20.45.

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Institutional investors have recently bought and sold shares of the stock. Chickasaw Capital Management LLC boosted its position in EnLink Midstream by 0.6% in the second quarter. Chickasaw Capital Management LLC now owns 15,656,055 shares of the pipeline company’s stock valued at $275,547,000 after buying an additional 100,025 shares in the last quarter. Eagle Global Advisors LLC boosted its position in EnLink Midstream by 5.9% in the second quarter. Eagle Global Advisors LLC now owns 3,741,870 shares of the pipeline company’s stock valued at $65,857,000 after buying an additional 206,991 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in EnLink Midstream by 3.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 3,461,842 shares of the pipeline company’s stock valued at $60,928,000 after buying an additional 113,842 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in EnLink Midstream by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,153,393 shares of the pipeline company’s stock valued at $37,899,000 after buying an additional 245,455 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in EnLink Midstream by 33.2% in the second quarter. Principal Financial Group Inc. now owns 2,101,858 shares of the pipeline company’s stock valued at $36,993,000 after buying an additional 523,482 shares in the last quarter. Institutional investors and hedge funds own 33.79% of the company’s stock.

About EnLink Midstream

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.

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