Zacks Investment Research lowered shares of EnLink Midstream Partners (NYSE:ENLK) from a hold rating to a sell rating in a research note published on Monday morning.
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. “
A number of other brokerages have also issued reports on ENLK. Credit Suisse Group started coverage on EnLink Midstream Partners in a report on Friday, January 5th. They issued a neutral rating and a $16.00 price objective for the company. Morgan Stanley increased their price objective on EnLink Midstream Partners from $18.00 to $19.00 and gave the stock an equal weight rating in a report on Friday, November 17th. BidaskClub lowered EnLink Midstream Partners from a hold rating to a sell rating in a report on Wednesday, November 15th. ValuEngine lowered EnLink Midstream Partners from a hold rating to a sell rating in a report on Friday, February 2nd. Finally, B. Riley set a $17.00 price objective on EnLink Midstream Partners and gave the stock a neutral rating in a report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. EnLink Midstream Partners presently has an average rating of Hold and an average target price of $18.18.
EnLink Midstream Partners (ENLK) opened at $16.55 on Monday. EnLink Midstream Partners has a fifty-two week low of $14.43 and a fifty-two week high of $19.59. The stock has a market capitalization of $5,780.00, a P/E ratio of -71.96 and a beta of 2.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.85 and a quick ratio of 0.77.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 13th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 9.43%. The ex-dividend date of this dividend is Tuesday, January 30th. EnLink Midstream Partners’s payout ratio is currently -678.26%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Center Coast Capital Advisors LP boosted its stake in EnLink Midstream Partners by 3.4% during the 3rd quarter. Center Coast Capital Advisors LP now owns 14,024,298 shares of the oil and gas producer’s stock valued at $235,047,000 after purchasing an additional 461,130 shares in the last quarter. Alps Advisors Inc. boosted its stake in EnLink Midstream Partners by 3.3% during the 4th quarter. Alps Advisors Inc. now owns 13,690,156 shares of the oil and gas producer’s stock valued at $210,418,000 after purchasing an additional 432,641 shares in the last quarter. Advisory Research Inc. boosted its stake in EnLink Midstream Partners by 3.2% during the 4th quarter. Advisory Research Inc. now owns 9,276,044 shares of the oil and gas producer’s stock valued at $142,573,000 after purchasing an additional 285,624 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in EnLink Midstream Partners by 1.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 8,280,784 shares of the oil and gas producer’s stock valued at $138,786,000 after purchasing an additional 138,181 shares in the last quarter. Finally, Harvest Fund Advisors LLC boosted its stake in EnLink Midstream Partners by 1.1% during the 3rd quarter. Harvest Fund Advisors LLC now owns 8,137,064 shares of the oil and gas producer’s stock valued at $136,377,000 after purchasing an additional 91,895 shares in the last quarter. 41.63% of the stock is owned by hedge funds and other institutional investors.
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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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