Wells Fargo Sticks to Their Hold Rating for EnLink Midstream (ENLC)

In a report released today, Praneeth Satish from Wells Fargo maintained a Hold rating on EnLink Midstream (ENLC), with a price target of $5.00. The company’s shares closed last Thursday at $4.44.

According to TipRanks.com, Satish is a 3-star analyst with an average return of 5.1% and a 56.4% success rate. Satish covers the Industrial Goods sector, focusing on stocks such as Noble Midstream Partners, Oasis Midstream Partners, and Ballard Power Systems.

The word on The Street in general, suggests a Hold analyst consensus rating for EnLink Midstream with a $5.00 average price target, representing a 10.9% upside. In a report issued on May 5, Raymond James also reiterated a Hold rating on the stock.

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EnLink Midstream’s market cap is currently $2.21B and has a P/E ratio of -15.30. The company has a Price to Book ratio of 6.48.

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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.

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