EnLink Midstream (ENLC) is Downgraded by BofA/Merrill to Neutral

EnLink Midstream (ENLC) is Downgraded by BofA/Merrill to Neutral , according to the research report released to the investors. Earlier the firm had a rating of Buy on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of EnLink Midstream, LLC (NYSE:ENLC) ended Thursday session in red amid volatile trading. The shares closed down 0.43 points or 2.87% at $14.57 with 747,643 shares getting traded. Post opening the session at $15.07, the shares hit an intraday low of $14.46 and an intraday high of $15.18 and the price vacillated in this range throughout the day. The company has a market cap of $2,393 million and the number of outstanding shares has been calculated to be 164,232,970 shares. The 52-week high of EnLink Midstream, LLC (NYSE:ENLC) is $37 and the 52-week low is $11.72.

During the last several months other analysts have commented on the company rating. Barclays initiates coverage on EnLink Midstream, LLC (NYSE:ENLC) The brokerage firm has issued a Overweight rating on the shares. The Analysts at the ratings agency announces the price target to $28 per share. The rating by the firm was issued on September 24, 2015.

As many as 10 brokerage firms have rated EnLink Midstream, LLC (NYSE:ENLC) at 1.5. Research Analysts at Zacks have ranked the company at 3, suggesting the traders with a rating of hold for the short term. The stock garnered a place in the hold list of 2 stock Analysts. 1 analysts suggested buying the company. 7 analysts rated the company as a strong buy.

EnLink Midstream, LLC (NYSE:ENLC): The mean estimate for the short term price target for EnLink Midstream, LLC (NYSE:ENLC) stands at $24.44 according to 9 Analysts. The higher price target estimate for the stock has been calculated at $29 while the lower price target estimate is at $18.

EnLink Midstream, LLC has lost 2.28% in the last five trading days and dropped 15.68% in the last 4 weeks. EnLink Midstream, LLC has dropped 27.1% during the last 3-month period . Year-to-Date the stock performance stands at -57.49%.

Enlink Midstream, LLC is a general partner of Enlink Midstream, LP (ENLK). The Company owns 8% of the limited partner interest in ENLK and all of ENLK’s incentive distribution rights. ENLK is a master limited partnership (MLP) that owns, operates and develops the majority of operating assets for its business. ENLK’s business include gathering and transportation pipelines and processing, fractionation and logistics assets located in many of North America’s premier oil and gas regions.