EnLink Midstream, LLC (NYSE:ENLC) Receives $15.40 Average PT from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have been assigned an average rating of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $15.40.

ENLC has been the topic of several recent research reports. StockNews.com assumed coverage on EnLink Midstream in a report on Thursday, March 20th. They set a “hold” rating on the stock. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th.

EnLink Midstream Stock Performance

NYSE ENLC opened at $14.56 on Friday. The company’s fifty day moving average is $14.62 and its two-hundred day moving average is $14.73. EnLink Midstream has a 52-week low of $11.83 and a 52-week high of $16.40. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43.

Hedge Funds Weigh In On EnLink Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Merewether Investment Management LP bought a new stake in shares of EnLink Midstream during the third quarter worth $64,477,000. Bank of America Corp DE lifted its position in EnLink Midstream by 586.0% during the 4th quarter. Bank of America Corp DE now owns 3,266,206 shares of the pipeline company’s stock worth $46,217,000 after buying an additional 2,790,050 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in EnLink Midstream in the 4th quarter valued at about $36,436,000. Brookfield Corp ON increased its position in EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after acquiring an additional 1,775,203 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in EnLink Midstream by 67.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,682,041 shares of the pipeline company’s stock worth $52,101,000 after purchasing an additional 1,482,164 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.