EnLink Midstream (ENLC) Receives a Sell from Morgan Stanley
Morgan Stanley analyst Robert Kad maintained a Sell rating on EnLink Midstream (ENLC) today and set a price target of $4.00. The company’s shares closed last Monday at $4.60, close to its 52-week high of $5.14.
Currently, the analyst consensus on EnLink Midstream is a Hold with an average price target of $4.40.
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The company has a one-year high of $5.14 and a one-year low of $0.88. Currently, EnLink Midstream has an average volume of 2.61M.
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EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, North Texas, Oklahoma, Louisiana and Corporate. The Permian segment includes natural gas gathering, processing, and transmission activities and crude oil operations in the Midland and Delaware Basins in West Texas and Eastern New Mexico and crude operations in South Texas. The North Texas segment includes natural gas gathering, processing, and transmission activities in North Texas. The Oklahoma segment includes natural gas gathering, processing, and transmission activities, and crude oil operations in the Cana-Woodford, Arkoma-Woodford, northern Oklahoma Woodford, STACK, and CNOW shale areas. The Louisiana segment includes natural gas pipelines, natural gas processing plants, storage facilities, fractionation facilities, and NGL assets located in Louisiana and crude oil operations in ORV. The Corporate segment includes investments in the Cedar Cove JV in Oklahoma, ownership interest in GCF in South Texas, derivative activity and general corporate assets and expenses. The company was founded in October 2013 and is headquartered in Dallas, TX.