Zacks Investment Research upgraded shares of EnLink Midstream Partners, LP (NYSE:ENLK) from a sell rating to a hold rating in a research report released on Tuesday morning.
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 research analysts also recently issued reports on the stock. Stifel Nicolaus upgraded shares of EnLink Midstream Partners, from a hold rating to a buy rating and set a $18.00 target price for the company in a report on Friday, June 16th. They noted that the move was a valuation call. Morgan Stanley cut shares of EnLink Midstream Partners, from an overweight rating to an equal rating and reduced their price target for the company from $20.00 to $19.00 in a research report on Thursday, June 15th. BidaskClub cut shares of EnLink Midstream Partners, from a sell rating to a strong sell rating in a research report on Saturday, June 10th. Guggenheim assumed coverage on shares of EnLink Midstream Partners, in a research report on Tuesday, April 18th. They set a neutral rating and a $18.00 price target on the stock. Finally, ValuEngine cut shares of EnLink Midstream Partners, from a hold rating to a sell rating in a research report on Thursday, June 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $19.09.
Shares of EnLink Midstream Partners, (NYSE ENLK) traded down 1.05% during trading on Tuesday, hitting $16.94. 145,967 shares of the stock traded hands. The company’s 50 day moving average is $16.58 and its 200 day moving average is $17.77. EnLink Midstream Partners, has a 52-week low of $15.07 and a 52-week high of $19.89. The firm’s market cap is $5.87 billion.
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The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 9.11%. EnLink Midstream Partners,’s payout ratio is currently -503.21%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning boosted its stake in EnLink Midstream Partners, by 1.7% in the first quarter. Creative Planning now owns 7,442 shares of the oil and gas producer’s stock valued at $136,000 after buying an additional 123 shares in the last quarter. Tocqueville Asset Management L.P. boosted its stake in EnLink Midstream Partners, by 0.8% in the first quarter. Tocqueville Asset Management L.P. now owns 10,079 shares of the oil and gas producer’s stock valued at $184,000 after buying an additional 79 shares in the last quarter. Linscomb & Williams Inc. bought a new stake in EnLink Midstream Partners, during the first quarter valued at about $195,000. Clinton Group Inc. bought a new stake in EnLink Midstream Partners, during the first quarter valued at about $200,000. Finally, Stephens Inc. AR boosted its stake in EnLink Midstream Partners, by 5.5% in the first quarter. Stephens Inc. AR now owns 13,363 shares of the oil and gas producer’s stock valued at $245,000 after buying an additional 696 shares in the last quarter. 42.71% of the stock is currently owned by institutional investors and hedge funds.
About EnLink Midstream Partners,
EnLink Midstream Partners, LP is a midstream company. The Company’s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP (the Operating Partnership) and the subsidiaries of the Operating Partnership. The Company operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate.
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