JPMorgan Chase & Co. reaffirmed their neutral rating on shares of EnLink Midstream (NYSE:ENLC) in a report released on Wednesday, March 14th. The firm currently has a $17.00 target price on the pipeline company’s stock, down from their previous target price of $18.00.
Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of EnLink Midstream from a hold rating to a sell rating in a research note on Friday, February 2nd. Robert W. Baird set a $16.00 target price on shares of EnLink Midstream and gave the stock a hold rating in a research report on Tuesday, February 27th. Bank of America cut their target price on shares of EnLink Midstream from $18.00 to $17.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Seaport Global Securities set a $17.00 target price on shares of EnLink Midstream and gave the stock a hold rating in a research report on Friday, February 9th. Finally, Zacks Investment Research upgraded shares of EnLink Midstream from a sell rating to a hold rating in a report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $18.07.
EnLink Midstream (NYSE:ENLC) traded down $0.20 during midday trading on Wednesday, hitting $14.95. 15,194 shares of the company were exchanged, compared to its average volume of 392,995. The firm has a market capitalization of $2,658.98, a price-to-earnings ratio of 13.06 and a beta of 2.58. EnLink Midstream has a fifty-two week low of $14.25 and a fifty-two week high of $20.00. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.64.
Several institutional investors have recently modified their holdings of ENLC. The Manufacturers Life Insurance Company boosted its position in shares of EnLink Midstream by 11.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after acquiring an additional 599 shares in the last quarter. Macquarie Group Ltd. acquired a new position in EnLink Midstream in the fourth quarter valued at about $144,000. Nationwide Fund Advisors boosted its position in EnLink Midstream by 397.6% in the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock valued at $207,000 after buying an additional 9,599 shares in the last quarter. Engineers Gate Manager LP acquired a new position in EnLink Midstream in the fourth quarter valued at about $214,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in EnLink Midstream in the third quarter valued at about $255,000. Institutional investors and hedge funds own 33.65% of the company’s stock.
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About EnLink Midstream
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.
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