Analysts Set EnLink Midstream, LLC (NYSE:ENLC) Price Target at $15.40

Shares of EnLink Midstream, LLC (NYSE:ENLC) have earned an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.40.

Several equities analysts have recently weighed in on ENLC shares. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. StockNews.com began coverage on shares of EnLink Midstream in a research note on Thursday. They set a “hold” rating for the company.

EnLink Midstream Trading Up 2.9 %

Shares of ENLC stock opened at $14.56 on Friday. The stock has a 50-day simple moving average of $14.63 and a 200 day simple moving average of $14.73. The stock has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. EnLink Midstream has a fifty-two week low of $11.83 and a fifty-two week high of $16.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

Hedge Funds Weigh In On EnLink Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its position in shares of EnLink Midstream by 5.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 10,958,740 shares of the pipeline company’s stock worth $155,066,000 after buying an additional 581,493 shares during the period. Dimensional Fund Advisors LP lifted its stake in EnLink Midstream by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,869,951 shares of the pipeline company’s stock worth $97,212,000 after acquiring an additional 69,089 shares in the last quarter. Merewether Investment Management LP acquired a new stake in EnLink Midstream during the 3rd quarter worth about $64,477,000. Blackstone Inc. grew its stake in EnLink Midstream by 36.1% during the 4th quarter. Blackstone Inc. now owns 4,349,618 shares of the pipeline company’s stock valued at $61,547,000 after acquiring an additional 1,153,872 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of EnLink Midstream by 31.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,167,451 shares of the pipeline company’s stock valued at $58,969,000 after purchasing an additional 991,887 shares during the period. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

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.