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

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

EnLink Midstream Stock Up 2.9 %

EnLink Midstream stock opened at $14.56 on Friday. The stock’s 50 day moving average price is $14.59 and its 200 day moving average price is $14.73. EnLink Midstream has a 1-year low of $11.83 and a 1-year high of $16.40. The company has a market cap of $6.65 billion, a PE ratio of 69.33 and a beta of 2.43. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in ENLC. Tortoise Capital Advisors L.L.C. lifted its stake in shares of EnLink Midstream by 5.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 10,958,740 shares of the pipeline company’s stock valued at $155,066,000 after purchasing an additional 581,493 shares during the period. Dimensional Fund Advisors LP increased its holdings in EnLink Midstream by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,869,951 shares of the pipeline company’s stock valued at $97,212,000 after buying an additional 69,089 shares in the last quarter. Merewether Investment Management LP purchased a new position in EnLink Midstream in the third quarter valued at about $64,477,000. Blackstone Inc. lifted its position in shares of EnLink Midstream by 36.1% during the 4th quarter. Blackstone Inc. now owns 4,349,618 shares of the pipeline company’s stock valued at $61,547,000 after acquiring an additional 1,153,872 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in shares of EnLink Midstream by 31.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 4,167,451 shares of the pipeline company’s stock worth $58,969,000 after acquiring an additional 991,887 shares in the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Company Profile

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.