EnLink Midstream LLC (ENLC) Cut to “Sell” at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. cut shares of EnLink Midstream LLC (NYSE:ENLC) from a neutral rating to a sell rating in a report released on Monday. They currently have $14.00 price target on the stock, down from their prior price target of $15.00.
Several other equities analysts have also issued reports on ENLC. Credit Suisse Group AG lowered EnLink Midstream from a neutral rating to an underperform rating and set a $17.00 price objective on the stock. in a report on Tuesday, September 13th. RBC Capital Markets reaffirmed a sector perform rating and set a $19.00 price objective (up previously from $14.00) on shares of EnLink Midstream in a report on Sunday, September 4th. Royal Bank Of Canada raised their price objective on EnLink Midstream from $14.00 to $19.00 and gave the stock a sector perform rating in a report on Friday, September 2nd. Barclays PLC lowered EnLink Midstream from an overweight rating to an equal weight rating and raised their price target for the stock from $15.00 to $16.00 in a report on Monday, June 20th. Finally, Wunderlich raised their price target on EnLink Midstream from $16.00 to $18.00 and gave the stock a hold rating in a report on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $16.21.
Shares of EnLink Midstream (NYSE:ENLC) opened at 16.00 on Monday. The firm’s 50-day moving average price is $16.55 and its 200 day moving average price is $14.60. The stock’s market capitalization is $2.88 billion. EnLink Midstream has a 1-year low of $6.41 and a 1-year high of $23.60.
Hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in EnLink Midstream by 24.3% in the second quarter. Teacher Retirement System of Texas now owns 7,489 shares of the company’s stock valued at $119,000 after buying an additional 1,464 shares during the last quarter. Quantbot Technologies LP purchased a new stake in EnLink Midstream during the second quarter valued at approximately $144,000. Groesbeck Investment Management Corp NJ purchased a new stake in EnLink Midstream during the first quarter valued at approximately $131,000. KCG Holdings Inc. boosted its stake in EnLink Midstream by 35.3% in the second quarter. KCG Holdings Inc. now owns 13,842 shares of the company’s stock valued at $220,000 after buying an additional 3,615 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in EnLink Midstream by 1,276.6% in the second quarter. Proficio Capital Partners LLC now owns 16,244 shares of the company’s stock valued at $245,000 after buying an additional 15,064 shares during the last quarter. 25.31% of the stock is owned by hedge funds and other institutional investors.
EnLink Midstream Company Profile
EnLink Midstream, LLC is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). 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.
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