EnLink Midstream Partners Gets a Hold Rating from Guggenheim

By Austin Angelo

In a report released today, Matthew Phillips from Guggenheim reiterated a Hold rating on EnLink Midstream Partners (NYSE: ENLK), with a price target of $16. The company’s shares opened today at $14.04.

According to TipRanks.com, Phillips is a 3-star analyst with an average return of 10.5% and a 56.5% success rate. Phillips covers the Basic Materials sector, focusing on stocks such as Antero Midstream Partners, Targa Resources Corp, and EnLink Midstream LLC.

Currently, the analyst consensus on EnLink Midstream Partners is Moderate Buy and the average price target is $15.50, representing a 10.4% upside.

In a report issued on April 9, Seaport Global also reiterated a Hold rating on the stock with a $13 price target.

Based on EnLink Midstream Partners’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.76 billion and quarterly net profit of $36.3 million. In comparison, last year the company earned revenue of $1.32 billion and had a GAAP net loss of $9.3 million.

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EnLink Midstream Partners LP provides integrated midstream services across natural gas, crude oil, condensate, and NGL commodities. It focuses on gathering, transmission, processing, fractionation, storage, condensate stabilization, brine services and marketing, to producers of natural gas, NGLs, crude oil and condensate.