EnLink Midstream, LLC (ENLC) Lifted to “Buy” at Zacks Investment Research

EnLink Midstream, LLC (NYSE:ENLC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $19.00 price target on the pipeline company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.11% from the stock’s current price.

According to Zacks, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas. “

A number of other brokerages have also recently commented on ENLC. Citigroup Inc. raised EnLink Midstream to a “neutral” rating and set a $19.00 target price on the stock in a report on Wednesday, August 2nd. BidaskClub raised EnLink Midstream from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. ValuEngine cut EnLink Midstream from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 target price on shares of EnLink Midstream in a report on Monday, July 31st. Finally, Jefferies Group LLC raised 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. EnLink Midstream has a consensus rating of “Hold” and a consensus target price of $18.82.

Shares of EnLink Midstream (ENLC) traded down 0.89% during trading on Tuesday, hitting $16.65. The stock had a trading volume of 407,113 shares. EnLink Midstream has a 1-year low of $14.70 and a 1-year high of $20.45. The stock’s 50-day moving average price is $17.24 and its 200 day moving average price is $17.55. The firm has a market capitalization of $3.01 billion, a P/E ratio of 4162.50 and a beta of 2.59.

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

According to Zacks, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas. “

A number of other brokerages have also recently commented on ENLC. Citigroup Inc. raised EnLink Midstream to a “neutral” rating and set a $19.00 target price on the stock in a report on Wednesday, August 2nd. BidaskClub raised EnLink Midstream from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. ValuEngine cut EnLink Midstream from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 target price on shares of EnLink Midstream in a report on Monday, July 31st. Finally, Jefferies Group LLC raised 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. EnLink Midstream has a consensus rating of “Hold” and a consensus target price of $18.82.

Shares of EnLink Midstream (ENLC) traded down 0.89% during trading on Tuesday, hitting $16.65. The stock had a trading volume of 407,113 shares. EnLink Midstream has a 1-year low of $14.70 and a 1-year high of $20.45. The stock’s 50-day moving average price is $17.24 and its 200 day moving average price is $17.55. The firm has a market capitalization of $3.01 billion, a P/E ratio of 4162.50 and a beta of 2.59.

COPYRIGHT VIOLATION NOTICE: “EnLink Midstream, LLC (ENLC) Lifted to “Buy” at Zacks Investment Research” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/17/enlink-midstream-llc-enlc-lifted-to-buy-at-zacks-investment-research.html.

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

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

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