EnLink Midstream Partners (ENLK) Bond Prices Rise 2.8%
An issue of EnLink Midstream Partners LP (NYSE:ENLK) bonds rose 2.8% against their face value during trading on Thursday. The high-yield debt issue has a 5.45% coupon and is set to mature on June 1, 2047. The bonds in the issue are now trading at $83.25 and were trading at $80.00 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.
A number of research firms recently weighed in on ENLK. Zacks Investment Research downgraded shares of EnLink Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. Royal Bank of Canada dropped their price target on shares of EnLink Midstream Partners from $19.00 to $17.00 and set a “sector perform” rating for the company in a research note on Thursday, November 8th. Barclays boosted their price target on shares of EnLink Midstream Partners from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Raymond James reissued a “market perform” rating on shares of EnLink Midstream Partners in a research note on Tuesday, October 23rd. Finally, Stifel Nicolaus downgraded shares of EnLink Midstream Partners from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $14.00 in a research note on Thursday, November 8th. Fifteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. EnLink Midstream Partners presently has a consensus rating of “Hold” and an average target price of $17.36.
NYSE:ENLK traded down $0.07 during trading hours on Friday, hitting $13.20. The stock had a trading volume of 2,953,299 shares, compared to its average volume of 1,229,527. EnLink Midstream Partners LP has a one year low of $12.72 and a one year high of $19.45. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.74 and a current ratio of 0.85. The company has a market capitalization of $4.69 billion, a PE ratio of 440.00 and a beta of 2.09.
In other news, major shareholder Goldman Sachs Group Inc bought 16,700 shares of the stock in a transaction on Friday, October 19th. The stock was purchased at an average price of $18.26 per share, with a total value of $304,942.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ENLK. Botty Investors LLC acquired a new position in shares of EnLink Midstream Partners in the third quarter valued at approximately $166,000. US Bancorp DE boosted its holdings in shares of EnLink Midstream Partners by 271.1% in the third quarter. US Bancorp DE now owns 9,779 shares of the oil and gas producer’s stock valued at $182,000 after buying an additional 7,144 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of EnLink Midstream Partners by 1,746.6% in the third quarter. Tower Research Capital LLC TRC now owns 11,781 shares of the oil and gas producer’s stock valued at $220,000 after buying an additional 11,143 shares during the period. LVW Advisors LLC acquired a new position in shares of EnLink Midstream Partners in the third quarter valued at approximately $223,000. Finally, McGowan Group Asset Management Inc. acquired a new position in shares of EnLink Midstream Partners in the third quarter valued at approximately $231,000. Institutional investors own 43.01% of the company’s stock.
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EnLink Midstream Partners Company Profile (NYSE:ENLK)
EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.
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