EnLink Midstream Partners (NYSE:ENLK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
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. “
A number of other equities analysts have also recently weighed in on ENLK. US Capital Advisors reissued a “hold” rating on shares of EnLink Midstream Partners in a research report on Tuesday, July 17th. B. Riley set a $17.00 price objective on shares of EnLink Midstream Partners and gave the company a “hold” rating in a research report on Wednesday, August 1st. ValuEngine raised shares of EnLink Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Stifel Nicolaus raised shares of EnLink Midstream Partners from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, August 2nd. Finally, Robert W. Baird set a $18.00 price objective on shares of EnLink Midstream Partners and gave the company a “hold” rating in a research report on Monday, August 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $17.36.
NYSE:ENLK opened at $13.82 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.72 and a quick ratio of 0.64. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 460.67 and a beta of 2.13. EnLink Midstream Partners has a 1-year low of $12.75 and a 1-year high of $19.45.
EnLink Midstream Partners (NYSE:ENLK) last posted its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.06). The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $1.86 billion. EnLink Midstream Partners had a net margin of 3.76% and a return on equity of 8.21%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. As a group, sell-side analysts expect that EnLink Midstream Partners will post 0.43 earnings per share for the current fiscal year.
In related news, major shareholder Goldman Sachs Group Inc purchased 91,538 shares of EnLink Midstream Partners stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average price of $18.52 per share, with a total value of $1,695,283.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ENLK. Wells Fargo & Company MN lifted its holdings in EnLink Midstream Partners by 38.4% in the first quarter. Wells Fargo & Company MN now owns 162,414 shares of the oil and gas producer’s stock worth $2,218,000 after acquiring an additional 45,094 shares during the last quarter. BlackRock Inc. lifted its holdings in EnLink Midstream Partners by 0.8% in the first quarter. BlackRock Inc. now owns 526,761 shares of the oil and gas producer’s stock worth $7,196,000 after acquiring an additional 4,074 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in EnLink Midstream Partners by 2.5% in the first quarter. Principal Financial Group Inc. now owns 4,152,195 shares of the oil and gas producer’s stock worth $56,719,000 after acquiring an additional 100,723 shares during the last quarter. Bank of Montreal Can bought a new position in EnLink Midstream Partners in the second quarter worth about $31,271,000. Finally, Ballentine Partners LLC lifted its holdings in EnLink Midstream Partners by 87.0% in the second quarter. Ballentine Partners LLC now owns 54,823 shares of the oil and gas producer’s stock worth $851,000 after acquiring an additional 25,503 shares during the last quarter. 41.67% of the stock is currently owned by hedge funds and other institutional investors.
EnLink Midstream Partners Company Profile
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.
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