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

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

EnLink Midstream Trading Up 2.9 %

ENLC stock opened at $14.56 on Friday. The firm has a fifty day moving average price of $14.58 and a 200 day moving average price of $14.74. EnLink Midstream has a fifty-two week low of $11.83 and a fifty-two week high of $16.40. The firm has a market cap of $6.65 billion, a PE ratio of 69.33 and a beta of 2.43. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42.

Institutional Trading of EnLink Midstream

Several hedge funds have recently made changes to their positions in the business. Merewether Investment Management LP purchased a new position in EnLink Midstream in the third quarter worth about $64,477,000. Bank of America Corp DE boosted its holdings in shares of EnLink Midstream by 586.0% in the 4th quarter. Bank of America Corp DE now owns 3,266,206 shares of the pipeline company’s stock worth $46,217,000 after purchasing an additional 2,790,050 shares during the period. Pentwater Capital Management LP bought a new position in shares of EnLink Midstream during the 4th quarter valued at approximately $36,436,000. Brookfield Corp ON raised its holdings in EnLink Midstream by 97.1% during the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after buying an additional 1,775,203 shares during the period. Finally, Westwood Holdings Group Inc. lifted its position in EnLink Midstream by 67.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,682,041 shares of the pipeline company’s stock worth $52,101,000 after buying an additional 1,482,164 shares during the last quarter. 45.87% of the stock is currently 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.