Seaport Global Securities started coverage on shares of EnLink Midstream, LLC (NYSE:ENLC) in a research report sent to investors on Tuesday. The firm issued a neutral rating and a $16.00 target price on the pipeline company’s stock.
A number of other research firms also recently weighed in on ENLC. Citigroup Inc. raised shares of EnLink Midstream to a neutral rating and set a $19.00 price target for the company in a research note on Wednesday, August 2nd. BidaskClub raised shares of EnLink Midstream from a strong sell rating to a sell rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded shares of EnLink Midstream from a hold rating to a strong sell rating in a research note on Tuesday, July 4th. ValuEngine downgraded shares of EnLink Midstream from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Royal Bank Of Canada reissued a hold rating and set a $21.00 price target on shares of EnLink Midstream in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $18.80.
Shares of EnLink Midstream (NYSE ENLC) traded up 1.45% during mid-day trading on Tuesday, reaching $17.45. 47,292 shares of the company were exchanged. 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. The stock’s market capitalization is $3.15 billion.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in EnLink Midstream by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after purchasing an additional 599 shares during the period. WFG Advisors LP grew its holdings in EnLink Midstream by 11.5% during the second quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock valued at $162,000 after purchasing an additional 950 shares during the period. GSA Capital Partners LLP acquired a new position in EnLink Midstream during the second quarter valued at approximately $178,000. Tower Research Capital LLC TRC acquired a new position in EnLink Midstream during the first quarter valued at approximately $206,000. Finally, Duff & Phelps Investment Management Co. grew its holdings in EnLink Midstream by 9.1% during the second quarter. Duff & Phelps Investment Management Co. now owns 12,000 shares of the pipeline company’s stock valued at $211,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 34.55% 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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