StockNews.com Initiates Coverage on EnLink Midstream (NYSE:ENLC)

Investment analysts at StockNews.com began coverage on shares of EnLink Midstream (NYSE:ENLC) in a report released on Saturday. The brokerage set a “hold” rating on the pipeline company’s stock.

EnLink Midstream Trading Up 2.9 %

NYSE:ENLC opened at $14.56 on Friday. EnLink Midstream has a 52-week low of $11.83 and a 52-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. The stock has a fifty day simple moving average of $14.53 and a 200-day simple moving average of $14.74. The company has a market capitalization of $6.65 billion, a PE ratio of 69.33 and a beta of 2.43.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENLC. California State Teachers Retirement System lifted its stake in EnLink Midstream by 10.5% in the 4th quarter. California State Teachers Retirement System now owns 217,731 shares of the pipeline company’s stock valued at $3,081,000 after buying an additional 20,725 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of EnLink Midstream during the fourth quarter valued at $73,000. Forum Financial Management LP increased its position in EnLink Midstream by 32.1% during the 4th quarter. Forum Financial Management LP now owns 19,521 shares of the pipeline company’s stock worth $276,000 after purchasing an additional 4,745 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in EnLink Midstream by 8.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 504,284 shares of the pipeline company’s stock valued at $7,136,000 after purchasing an additional 37,725 shares during the last quarter. Finally, Willis Johnson & Associates Inc. purchased a new position in EnLink Midstream in the 4th quarter valued at about $159,000. 45.87% of the stock is owned by hedge funds and other institutional investors.

About EnLink Midstream

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.