EnLink Midstream Partners (ENLK) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of EnLink Midstream Partners (NYSE:ENLK) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

According to Zacks, “EnLink Midstream Partners LP is a midstream energy company. It focuses on providing midstream energy services, including gathering, processing, transmission and marketing, to producers of natural gas, natural gas liquids and crude oil. The company also provides crude oil, condensate, and brine services to producers. It operates in the Gulf Coast region of the United States. EnLink Midstream Partners LP, formerly known as Crosstex Energy L.P., is based in Dallas, Texas. “

Several other equities analysts have also commented on the company. Bank of America upped their target price on EnLink Midstream Partners from $18.00 to $20.00 and gave the company a buy rating in a report on Thursday, February 8th. ValuEngine downgraded EnLink Midstream Partners from a hold rating to a sell rating in a research report on Friday, February 2nd. Credit Suisse Group started coverage on EnLink Midstream Partners in a research report on Friday, January 5th. They set a neutral rating and a $16.00 price objective for the company. B. Riley set a $17.00 price objective on EnLink Midstream Partners and gave the stock a neutral rating in a research report on Monday, December 18th. Finally, Goldman Sachs Group started coverage on EnLink Midstream Partners in a research report on Friday, November 17th. They set a neutral rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $18.33.

EnLink Midstream Partners (ENLK) opened at $16.42 on Monday. The company has a market capitalization of $5,762.13, a P/E ratio of -71.39 and a beta of 2.08. EnLink Midstream Partners has a fifty-two week low of $14.43 and a fifty-two week high of $19.59. The company has a current ratio of 0.85, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.39 per share. The ex-dividend date was Tuesday, January 30th. This represents a $1.56 annualized dividend and a dividend yield of 9.50%. EnLink Midstream Partners’s dividend payout ratio is presently -678.23%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENLK. First Dallas Securities Inc. acquired a new stake in EnLink Midstream Partners in the fourth quarter worth approximately $109,000. Captrust Financial Advisors acquired a new stake in EnLink Midstream Partners in the fourth quarter worth approximately $130,000. Stuart Chaussee & Associates Inc. acquired a new stake in EnLink Midstream Partners in the fourth quarter worth approximately $143,000. Saratoga Research & Investment Management acquired a new stake in EnLink Midstream Partners in the third quarter worth approximately $156,000. Finally, Pitcairn Co. acquired a new stake in EnLink Midstream Partners in the fourth quarter worth approximately $178,000. Hedge funds and other institutional investors own 41.63% of the company’s stock.

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About EnLink Midstream Partners

EnLink Midstream Partners, LP is a midstream company. The Company’s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP (the Operating Partnership) and the subsidiaries of the Operating Partnership. The Company operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate.

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