Morgan Stanley Upgrades EnLink Midstream Partners LP to Overweight with Price Target $19.00

Brokerage firm Morgan Stanley Upgrades its rating on EnLink Midstream Partners LP(NYSE:ENLK). In a research note issued to the investors, the brokerage major Raises the price-target to $19.00 per share. The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Jun 22, 2016.

In a different note, On Jun 8, 2016, Jefferies said it Downgrades its rating on EnLink Midstream Partners LP. 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 12, 2016, Goldman Sachs said it Maintains its rating on EnLink Midstream Partners LP. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 9, 2016, Barclays said it Maintains its rating on EnLink Midstream Partners LP. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On May 5, 2016, Credit Suisse said it Maintains its rating on EnLink Midstream Partners LP. In the research note, the firm Raises the price-target to $14.00 per share. The shares have been rated ‘Outperform’ by the firm. Drexel Hamilton said it Initiates Coverage on EnLink Midstream Partners LP, according to a research note issued on Apr 6, 2016. The shares have been rated ‘Hold’ by the firm. On Apr 1, 2016, Piper Jaffray said it Assumes its rating on EnLink Midstream Partners LP. The shares have been rated ‘Overweight’ by the firm.

EnLink Midstream Partners LP (ENLK) shares turned negative on Mondays trading session with the shares closing down -0.46 points or -2.91% at a volume of 7,45,684. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.93. The peak price level was also seen at $15.93 while the days lowest was $14.89. Finally the shares closed at $15.35. The 52-week high of the shares is $23.38 while the 52-week low is $6.32. According to the latest information available, the market cap of the company is $5,108 M.

EnLink Midstream Partners LP(ENLK) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $889.70M. Analysts had an estimated revenue of $1.06B. Earnings per share were $0.01. Analysts had estimated an EPS of $0.08.

Several Insider Transactions has been reported to the SEC. On Nov 2, 2015, Midstream, Inc. Enlink (director 10% owner) purchased 2,849,100 shares at $0.00 per share price.Also, On Nov 2, 2015, Midstream, Llc Enlink (director 10% owner) purchased 2,849,100 shares at $0.00 per share price.On Nov 2, 2015, Midstream Manager, Llc Enlink (director 10% owner) purchased 2,849,100 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.

EnLink Midstream Partners LP formerly Crosstex Energy L.P. focuses on providing midstream energy services including gathering transmission processing fractionation and marketing to producers of natural gas natural gas liquids (NGL) crude oil and condensate. The Company also provides crude oil condensate and brine disposal services to producers. The Company owns and operates around 360 miles of gas gathering pipelines approximately 300 Million Cubic Feet per Day (MMcf/d) of processing capacity as well as crude trucking and logistics services extending through seven counties in the core of the Midland Basin. EnLink Midstream operates approximately 9100 miles of gathering and transportation pipelines 16 processing plants seven fractionators as well as barge and rail terminals product storage facilities brine disposal wells truck terminals and a fleet of approximately 100 trucks.

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