EnLink Midstream (NYSE:ENLC) Earns Hold Rating from Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of EnLink Midstream (NYSE:ENLC) in a research note issued on Saturday. The firm set a “hold” rating on the pipeline company’s stock.

ENLC has been the topic of a number of other research reports. Mizuho restated a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, November 21st. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Finally, US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.40.

EnLink Midstream Stock Performance

Shares of EnLink Midstream stock opened at $14.56 on Friday. EnLink Midstream has a fifty-two week low of $11.55 and a fifty-two week high of $16.40. The company’s 50 day moving average price is $14.61 and its two-hundred day moving average price is $14.45. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43.

Hedge Funds Weigh In On EnLink Midstream

Several hedge funds and other institutional investors have recently modified their holdings of the company. Merewether Investment Management LP purchased a new position in shares of EnLink Midstream during the 3rd quarter valued at about $64,477,000. Brookfield Corp ON grew its stake in shares of EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock worth $52,285,000 after buying an additional 1,775,203 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in EnLink Midstream by 32.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock valued at $48,236,000 after purchasing an additional 812,767 shares during the period. Miller Howard Investments Inc. NY lifted its position in EnLink Midstream by 1.4% in the fourth quarter. Miller Howard Investments Inc. NY now owns 2,320,292 shares of the pipeline company’s stock worth $32,832,000 after buying an additional 33,025 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its holdings in EnLink Midstream by 120.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after purchasing an additional 1,141,254 shares during the last quarter. 45.87% of the stock is owned by institutional investors.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.