EnLink Midstream (NYSE:ENLC) Coverage Initiated by Analysts at StockNews.com

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

EnLink Midstream Stock Up 2.9 %

ENLC stock opened at $14.56 on Friday. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43. The company has a fifty day moving average price of $14.59 and a 200 day moving average price 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 12 month low of $11.83 and a 12 month high of $16.40.

Hedge Funds Weigh In On EnLink Midstream

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