Barclays Downgrades EnLink Midstream LLC to Equal-weight with Price Target $16.00

Brokerage firm Barclays Downgrades its rating on EnLink Midstream LLC(NYSE:ENLC). In a research note issued to the investors, the brokerage major Raises the price-target to $16.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Barclays was issued on Jun 20, 2016.

In a different note, On Jun 10, 2016, Mitsubishi UFJ said it Downgrades its rating on EnLink Midstream LLC. The shares have been rated ‘Underweight’ by the firm. On Jun 8, 2016, Jefferies said it Downgrades its rating on EnLink Midstream LLC. In the research note, the firm Raises the price-target to $13.00 per share. The shares have been rated ‘Hold’ by the firm. On May 31, 2016, JP Morgan said it Maintains its rating on EnLink Midstream LLC. In the research note, the firm Raises the price-target to $11.50 per share. The shares have been rated ‘Neutral’ by the firm. On May 12, 2016, Goldman Sachs said it Maintains its rating on EnLink Midstream LLC. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 9, 2016, Barclays said it Maintains its rating on EnLink Midstream LLC. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 5, 2016, Credit Suisse said it Maintains its rating on EnLink Midstream LLC. In the research note, the firm Raises the price-target to $12.00 per share. The shares have been rated ‘Neutral’ by the firm.

EnLink Midstream LLC (ENLC) shares turned negative on Fridays trading session with the shares closing down -0.78 points or -4.82% at a volume of 5,41,946. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.94. The peak price level was also seen at $15.94 while the days lowest was $15.26. Finally the shares closed at $15.4. The 52-week high of the shares is $33.17 while the 52-week low is $6.41. According to the latest information available, the market cap of the company is $2,773 M.

EnLink Midstream LLC(ENLC) last announced its earnings results on Feb 17, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $1.07B. Analysts had an estimated revenue of $1.24B. Earnings per share were $-0.06. Analysts had estimated an EPS of $-0.10.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2015, Stan Golemon (Senior Vice President) sold 33,431 shares at $32.35 per share price.

Enlink Midstream LLC is a limited liability company. The Company’s assets consist of equity interests in EnLink Midstream Partners LP (Partnership) and EnLink Midstream Holdings LP (Midstream Holdings). The Partnership is a publicly traded limited partnership engaged in the gathering transmission processing and marketing of natural gas and natural gas liquids (NGLs) condensate and crude oil as well as providing crude oil condensate and brine services to producers. Midstream Holdings is engaged in the gathering transmission and processing of natural gas. The Company has approximately 17431152 common units representing an aggregate 7% limited partner interest in the Partnership. As of December 31 2014 the Company also has 100% ownership interest in EnLink Midstream Partners GP LLC which is the general partner of the Partnership. The Company also had 25% limited partner interest in Midstream Holdings as of February 17 2015.

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