StockNews.com Begins Coverage on EnLink Midstream (NYSE:ENLC)

StockNews.com began coverage on shares of EnLink Midstream (NYSE:ENLC) in a research note issued to investors on Thursday. The firm issued a hold rating on the pipeline company’s stock.

EnLink Midstream Price Performance

Shares of EnLink Midstream stock opened at $14.56 on Thursday. EnLink Midstream has a twelve month low of $11.83 and a twelve month high of $16.40. The stock has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The business’s fifty day moving average price is $14.56 and its 200 day moving average price is $14.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Segment Wealth Management LLC boosted its holdings in EnLink Midstream by 44.8% in the fourth quarter. Segment Wealth Management LLC now owns 208,381 shares of the pipeline company’s stock valued at $2,949,000 after acquiring an additional 64,512 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in EnLink Midstream by 26.7% in the fourth quarter. Pacer Advisors Inc. now owns 128,009 shares of the pipeline company’s stock valued at $1,811,000 after acquiring an additional 26,937 shares during the last quarter. Caprock Group LLC acquired a new position in EnLink Midstream in the fourth quarter valued at $284,000. Fort Washington Investment Advisors Inc. OH acquired a new position in EnLink Midstream in the fourth quarter valued at $2,053,000. Finally, Atria Wealth Solutions Inc. acquired a new position in EnLink Midstream in the fourth quarter valued at $272,000. 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.