Bank of America Cuts EnLink Midstream (ENLC) Price Target to $17.00

EnLink Midstream (NYSE:ENLC) had its price objective decreased by Bank of America from $18.00 to $17.00 in a research report issued to clients and investors on Thursday. The firm currently has a “neutral” rating on the pipeline company’s stock. Bank of America’s target price indicates a potential upside of 8.28% from the stock’s current price.

ENLC has been the topic of a number of other research reports. Credit Suisse Group started coverage on shares of EnLink Midstream in a report on Thursday, January 4th. They set a “neutral” rating and a $19.00 target price on the stock. Robert W. Baird set a $21.00 target price on shares of EnLink Midstream and gave the company a “hold” rating in a report on Friday, November 17th. Goldman Sachs Group upgraded shares of EnLink Midstream from a “sell” rating to a “neutral” rating in a report on Friday, November 17th. Citigroup dropped their target price on shares of EnLink Midstream from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Finally, BidaskClub upgraded shares of EnLink Midstream from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.50.

Shares of EnLink Midstream (ENLC) traded down $0.05 during mid-day trading on Thursday, hitting $15.70. 85,149 shares of the stock were exchanged, compared to its average volume of 381,125. EnLink Midstream has a 1 year low of $15.00 and a 1 year high of $20.45. The company has a market cap of $3,051.95, a PE ratio of 13.62 and a beta of 2.47. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

A number of institutional investors have recently made changes to their positions in the stock. Chickasaw Capital Management LLC boosted its stake in EnLink Midstream by 3.0% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,898,889 shares of the pipeline company’s stock worth $279,820,000 after purchasing an additional 456,251 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in EnLink Midstream by 8.0% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 3,737,067 shares of the pipeline company’s stock worth $64,464,000 after purchasing an additional 275,225 shares in the last quarter. Dimensional Fund Advisors LP raised its position in EnLink Midstream by 14.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock worth $42,577,000 after buying an additional 314,840 shares during the last quarter. Principal Financial Group Inc. raised its position in EnLink Midstream by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,182,575 shares of the pipeline company’s stock worth $37,650,000 after buying an additional 80,717 shares during the last quarter. Finally, Cushing Asset Management LP raised its position in EnLink Midstream by 8.5% in the 4th quarter. Cushing Asset Management LP now owns 2,049,495 shares of the pipeline company’s stock worth $36,072,000 after buying an additional 161,196 shares during the last quarter. Institutional investors own 33.42% of the company’s stock.

TRADEMARK VIOLATION WARNING: This news story was reported by Week Herald and is owned by of Week Herald. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of United States and international trademark & copyright legislation. The legal version of this news story can be viewed at https://weekherald.com/2018/02/22/bank-of-america-cuts-enlink-midstream-enlc-price-target-to-17-00.html.

About EnLink Midstream

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). 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.

Analyst Recommendations for EnLink Midstream (NYSE:ENLC)

Receive News & Ratings for EnLink Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply