The stock of EnLink Midstream LLC (NYSE:ENLC) hit a new 52-week high and has $23.65 target or 31.00% above today’s $18.05 share price. The 6 months bullish chart indicates low risk for the $3.32B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $23.65 price target is reached, the company will be worth $1.03B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 103,986 shares traded hands. EnLink Midstream LLC (NYSE:ENLC) has risen 36.36% since April 19, 2016 and is uptrending. It has outperformed by 32.50% the S&P500.
EnLink Midstream LLC (NYSE:ENLC) Ratings Coverage
Out of 15 analysts covering EnLink Midstream LLC (NYSE:ENLC), 3 rate it a “Buy”, 3 “Sell”, while 9 “Hold”. This means 20% are positive. EnLink Midstream LLC has been the topic of 41 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Thursday, May 12 the stock rating was maintained by Goldman Sachs with “Neutral”. The firm has “Neutral” rating given on Thursday, March 17 by Credit Suisse. On Friday, April 1 the stock rating was reinitiated by Piper Jaffray with “Neutral”. Wells Fargo downgraded the shares of ENLC in a report on Monday, January 18 to “Market Perform” rating. The firm has “Underweight” rating by Mitsubishi UFJ given on Friday, June 10. The rating was downgraded by Credit Suisse to “Underperform” on Tuesday, September 13. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, September 2. The rating was upgraded by UBS to “Buy” on Wednesday, September 9. Citigroup initiated EnLink Midstream LLC (NYSE:ENLC) rating on Tuesday, August 11. Citigroup has “Buy” rating and $31 price target. The rating was maintained by Credit Suisse on Friday, February 19 with “Outperform”.
According to Zacks Investment Research, “Enlink Midstream LLC is independent midstream energy. The Company is involved in natural gas gathering, treating, processing, transmission, distribution, supply and marketing, and crude oil marketing. Enlink Midstream LLC, formerly known as Crosstex Energy Inc., is based in headquartered in Dallas, Texas.”
More notable recent EnLink Midstream LLC (NYSE:ENLC) news were published by: Fool.com which released: “Here’s Why EnLink Midstream LLC Is Slumping Today” on February 17, 2016, also Businesswire.com with their article: “EnLink Midstream, LLC and EnLink Midstream Partners LP to Acquire Subsidiaries …” published on December 07, 2015, Fool.com published: “4 Key Factors That Will Determine Whether EnLink Midstream’s Dividend Survives …” on December 20, 2015. More interesting news about EnLink Midstream LLC (NYSE:ENLC) were released by: Equitiesfocus.com and their article: “EnLink Midstream, LLC (NYSE:ENLC) Fixes Dividend Payout At $0.255” published on November 21, 2016 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: EnLink Midstream, ONEOK Partners and Crescent Point Energy” with publication date: October 25, 2016.
ENLC Company Profile
EnLink Midstream, LLC, incorporated on October 16, 2013, is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). The Partnership’s assets consist of gathering systems, transmission pipelines, processing facilities, fractionation facilities, stabilization facilities, storage facilities and ancillary assets. TOM Holdings and its subsidiaries are controlled by the Partnership and have similar activities to the Partnership. The Partnership has five reportable divisions: Texas, which includes the Partnership’s natural gas gathering, processing and transmission activities in north Texas and the Permian Basin in west Texas; Oklahoma, which includes the Partnership’s natural gas gathering, processing and transmission activities in Cana-Woodford and Arkoma-Woodford Shale areas; Louisiana, which includes the Partnership’s natural gas pipelines, natural gas processing plants and NGL assets located in Louisiana; Crude and Condensate, which includes the Partnership’s Ohio River Valley crude oil, condensate and brine disposal activities in the Utica and Marcellus Shales, its equity interests in E2 Energy Services, LLC, E2 Appalachian Compression, LLC and E2 Ohio Compression, LLC, its crude oil activities in the Permian Basin and its crude oil activities associated with the Victoria Express Pipeline and related truck terminal and storage assets (VEX) located in the Eagle Ford Shale, and Corporate, which includes the Partnership’s unconsolidated affiliate investments in Howard Energy Partners (HEP), in the Eagle Ford Shale, its contractual right to the economic burdens and benefits associated with Devon Energy Corporation’s ownership interest in Gulf Coast Fractionators (GCF).
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