EnLink Midstream (NYSE:ENLC) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a report issued on Monday. The brokerage issued a hold rating on the pipeline company’s stock.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $14.56 on Monday. The company has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. The business has a fifty day simple moving average of $14.56 and a two-hundred day simple moving average of $14.73. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. EnLink Midstream has a 1 year low of $11.83 and a 1 year high of $16.40.

Hedge Funds Weigh In On EnLink Midstream

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENLC. Bank of America Corp DE lifted its stake in shares of EnLink Midstream by 586.0% during the 4th quarter. Bank of America Corp DE now owns 3,266,206 shares of the pipeline company’s stock valued at $46,217,000 after buying an additional 2,790,050 shares in the last quarter. Pentwater Capital Management LP purchased a new position in shares of EnLink Midstream in the fourth quarter valued at $36,436,000. Westwood Holdings Group Inc. raised its stake in shares of EnLink Midstream by 67.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,682,041 shares of the pipeline company’s stock valued at $52,101,000 after purchasing an additional 1,482,164 shares during the period. Blackstone Inc. raised its stake in shares of 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 purchasing an additional 1,153,872 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in EnLink Midstream by 85.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,189,221 shares of the pipeline company’s stock worth $30,977,000 after purchasing an additional 1,008,200 shares in the last quarter. Institutional investors own 45.87% of the company’s stock.

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.