EnLink Midstream Partners, LP (NYSE:ENLK) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of EnLink Midstream Partners, LP (NYSE:ENLK) from a sell rating to a hold rating in a research note published on Tuesday, July 18th.

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. “

ENLK has been the subject of several other reports. Guggenheim initiated 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 for the company. ValuEngine downgraded shares of EnLink Midstream Partners, from a hold rating to a sell rating in a report on Thursday, June 8th. Morgan Stanley downgraded shares of EnLink Midstream Partners, from an overweight rating to an equal rating and cut their price objective for the company from $20.00 to $19.00 in a report on Thursday, June 15th. BidaskClub upgraded shares of EnLink Midstream Partners, from a strong sell rating to a sell rating in a report on Tuesday, June 27th. Finally, Stifel Nicolaus upgraded shares of EnLink Midstream Partners, from a hold rating to a buy rating and set a $18.00 price target on the stock in a report on Friday, June 16th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. EnLink Midstream Partners, presently has an average rating of Hold and a consensus target price of $19.20.

Shares of EnLink Midstream Partners, (NYSE ENLK) traded up 0.06% during mid-day trading on Tuesday, reaching $15.48. 911,577 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $16.69 and a 200 day moving average price of $17.59. 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 $5.38 billion.

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The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $1.56 annualized dividend and a dividend yield of 10.08%. EnLink Midstream Partners,’s dividend payout ratio is presently -503.21%.

Several hedge funds and other institutional investors have recently bought and sold shares of ENLK. California Public Employees Retirement System increased its stake in shares of EnLink Midstream Partners, by 2.2% in the second quarter. California Public Employees Retirement System now owns 157,400 shares of the oil and gas producer’s stock worth $2,670,000 after buying an additional 3,400 shares during the last quarter. Northern Trust Corp increased its stake in shares of EnLink Midstream Partners, by 2.3% in the second quarter. Northern Trust Corp now owns 14,386 shares of the oil and gas producer’s stock worth $244,000 after buying an additional 326 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of EnLink Midstream Partners, during the second quarter worth about $184,000. PNC Financial Services Group Inc. increased its stake in shares of EnLink Midstream Partners, by 7.3% in the second quarter. PNC Financial Services Group Inc. now owns 164,435 shares of the oil and gas producer’s stock worth $2,788,000 after buying an additional 11,142 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in EnLink Midstream Partners, by 756.4% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 217,244 shares of the oil and gas producer’s stock valued at $3,684,000 after buying an additional 191,878 shares in the last quarter. Institutional investors and hedge funds own 42.51% of the company’s stock.

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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