EnLink Midstream (NYSE:ENLC) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a report released on Thursday. The firm set a “hold” rating on the pipeline company’s stock.

ENLC has been the subject of several other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, November 21st. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Trading Up 2.9 %

Shares of EnLink Midstream stock opened at $14.56 on Thursday. The company has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The company has a fifty day moving average of $14.63 and a 200 day moving average of $14.72. EnLink Midstream has a fifty-two week low of $11.83 and a fifty-two week high of $16.40.

Institutional Trading of EnLink Midstream

Several hedge funds have recently made changes to their positions in ENLC. Citigroup Inc. raised its position in shares of EnLink Midstream by 0.6% during the 3rd quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 1,473 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of EnLink Midstream during the 3rd quarter valued at about $4,211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of EnLink Midstream by 121.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,559 shares of the pipeline company’s stock valued at $6,770,000 after buying an additional 255,855 shares in the last quarter. Walleye Capital LLC raised its position in shares of EnLink Midstream by 1,829.6% during the 3rd quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock valued at $4,095,000 after buying an additional 267,619 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in EnLink Midstream in the 3rd quarter worth about $64,477,000. 45.87% of the stock is currently owned by hedge funds and other 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.