ValuEngine Downgrades EnLink Midstream Partners (ENLK) to Sell

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EnLink Midstream Partners (NYSE:ENLK) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other research firms have also issued reports on ENLK. B. Riley set a $17.00 price target on shares of EnLink Midstream Partners and gave the stock a “hold” rating in a research report on Monday, June 4th. JPMorgan Chase & Co. raised shares of EnLink Midstream Partners from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $16.00 to $17.00 in a research report on Wednesday, April 4th. Bank of America dropped their price target on shares of EnLink Midstream Partners from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, March 27th. Robert W. Baird downgraded shares of EnLink Midstream Partners from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $16.00 in a report on Tuesday, February 27th. They noted that the move was a valuation call. Finally, Seaport Global Securities set a $13.00 price objective on shares of EnLink Midstream Partners and gave the company a “hold” rating in a report on Monday, April 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. EnLink Midstream Partners has a consensus rating of “Hold” and an average target price of $16.69.

Shares of ENLK stock opened at $15.39 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.98 and a current ratio of 1.02. EnLink Midstream Partners has a 12 month low of $12.75 and a 12 month high of $18.58. The firm has a market capitalization of $5.27 billion, a PE ratio of 513.00 and a beta of 2.15.

EnLink Midstream Partners (NYSE:ENLK) last posted its quarterly earnings results on Tuesday, May 1st. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. EnLink Midstream Partners had a net margin of 3.09% and a return on equity of 4.52%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. analysts anticipate that EnLink Midstream Partners will post 0.32 earnings per share for the current fiscal year.

In related news, CAO Susan J. Mcaden sold 14,929 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $16.29, for a total value of $243,193.41. Following the transaction, the chief accounting officer now directly owns 27,464 shares in the company, valued at $447,388.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ENLK. California Public Employees Retirement System grew its stake in EnLink Midstream Partners by 4.5% during the fourth quarter. California Public Employees Retirement System now owns 178,534 shares of the oil and gas producer’s stock worth $2,744,000 after buying an additional 7,762 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in EnLink Midstream Partners during the fourth quarter worth about $226,000. Virtu Financial LLC grew its stake in EnLink Midstream Partners by 30.1% during the fourth quarter. Virtu Financial LLC now owns 38,738 shares of the oil and gas producer’s stock worth $596,000 after buying an additional 8,963 shares in the last quarter. Brookfield Asset Management Inc. acquired a new stake in EnLink Midstream Partners during the fourth quarter worth about $28,365,000. Finally, Eagle Global Advisors LLC grew its stake in EnLink Midstream Partners by 40.1% during the fourth quarter. Eagle Global Advisors LLC now owns 2,616,399 shares of the oil and gas producer’s stock worth $40,214,000 after buying an additional 749,200 shares in the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.

About EnLink Midstream Partners

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for EnLink Midstream Partners (NYSE:ENLK)

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