EnLink Midstream, LLC (ENLC) Downgraded by Jefferies Group to Underperform
ENLC has been the topic of several other reports. Zacks Investment Research upgraded EnLink Midstream from a hold rating to a buy rating and set a $18.00 price objective on the stock in a research report on Tuesday, October 4th. Goldman Sachs Group, Inc. (The) downgraded EnLink Midstream from a neutral rating to a sell rating and reduced their price objective for the company from $15.00 to $14.00 in a research report on Monday, September 19th. Finally, Credit Suisse Group restated an underperform rating and issued a $18.00 price objective (up from $17.00) on shares of EnLink Midstream in a research report on Sunday, December 4th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $17.25.
Shares of EnLink Midstream (NYSE:ENLC) traded down 0.52% during mid-day trading on Thursday, hitting $18.95. The company’s stock had a trading volume of 228,206 shares. EnLink Midstream has a 12-month low of $6.41 and a 12-month high of $20.25. The stock has a 50-day moving average of $18.63 and a 200-day moving average of $16.81. The company’s market cap is $3.41 billion.
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In other EnLink Midstream news, VP Susan J. Mcaden sold 5,400 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $18.56, for a total transaction of $100,224.00. Following the completion of the sale, the vice president now directly owns 30,994 shares in the company, valued at $575,248.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.24% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Chickasaw Capital Management LLC raised its stake in EnLink Midstream by 3.5% in the third quarter. Chickasaw Capital Management LLC now owns 15,187,625 shares of the company’s stock worth $254,393,000 after buying an additional 507,965 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in EnLink Midstream by 10.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 2,731,629 shares of the company’s stock worth $43,460,000 after buying an additional 266,469 shares during the period. Lubar & Co. Inc raised its stake in EnLink Midstream by 76.2% in the third quarter. Lubar & Co. Inc now owns 1,884,440 shares of the company’s stock worth $31,564,000 after buying an additional 814,998 shares during the period. RGT Capital Management Ltd. bought a new stake in EnLink Midstream during the third quarter worth about $30,919,000. Finally, JPMorgan Chase & Co. raised its stake in EnLink Midstream by 61.6% in the second quarter. JPMorgan Chase & Co. now owns 1,483,464 shares of the company’s stock worth $23,602,000 after buying an additional 565,487 shares during the period. Institutional investors own 29.77% of the company’s stock.
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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