Goldman Sachs Group Inc. Downgrades EnLink Midstream LLC (ENLC) to Sell
EnLink Midstream LLC (NYSE:ENLC) was downgraded by Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a research note issued to investors on Monday. They currently have a $14.00 price target on the stock, down from their previous price target of $15.00. Goldman Sachs Group Inc.’s target price suggests a potential downside of 10.66% from the stock’s current price.
Other analysts have also issued reports about the company. Citigroup Inc. reaffirmed a “buy” rating and issued a $19.00 price target (up from $18.00) on shares of EnLink Midstream in a research note on Tuesday, June 28th. Barclays PLC lifted their price target on EnLink Midstream from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 17th. Jefferies Group downgraded EnLink Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $13.00 to $15.00 in a research report on Wednesday, June 8th. Wunderlich lifted their price objective on EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, August 31st. Finally, Robert W. Baird upgraded EnLink Midstream from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $8.00 to $16.00 in a research report on Tuesday, June 28th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $16.21.
EnLink Midstream (NYSE:ENLC) opened at 15.67 on Monday. The company’s market cap is $2.82 billion. EnLink Midstream has a 52-week low of $6.41 and a 52-week high of $23.60. The stock’s 50 day moving average price is $16.53 and its 200-day moving average price is $14.59.
Large investors have recently modified their holdings of the stock. HBK Investments L P purchased a new stake in shares of EnLink Midstream during the first quarter worth $609,000. JPMorgan Chase & Co. boosted its stake in shares of EnLink Midstream by 10.8% in the first quarter. JPMorgan Chase & Co. now owns 917,977 shares of the company’s stock worth $10,328,000 after buying an additional 89,610 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of EnLink Midstream by 1.3% in the first quarter. BlackRock Fund Advisors now owns 29,076 shares of the company’s stock worth $327,000 after buying an additional 371 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of EnLink Midstream during the second quarter worth $812,000. Finally, Barclays PLC boosted its stake in shares of EnLink Midstream by 18.9% in the first quarter. Barclays PLC now owns 210,453 shares of the company’s stock worth $2,315,000 after buying an additional 33,522 shares during the last quarter. 25.31% of the stock is owned by institutional investors and hedge funds.
About EnLink Midstream
EnLink Midstream, LLC is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). 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.
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