Jefferies Sticks to Its Hold Rating for EnLink Midstream Partners

By Austin Angelo

In a report released yesterday, Christopher Sighinolfi from Jefferies reiterated a Hold rating on EnLink Midstream Partners (NYSE: ENLK), with a price target of $18. The company’s shares opened today at $15.50, close to its 52-week low of $14.89.

According to, Sighinolfi is a 5-star analyst with an average return of 9.9% and a 59.2% success rate. Sighinolfi covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Dcp Midstream Partners Lp, and National Fuel Gas Company.

Currently, the analyst consensus on EnLink Midstream Partners is Moderate Buy and the average price target is $19.20, representing a 23.9% upside.

In a report issued on June 15, Morgan Stanley also downgraded the stock to Hold with a $19 price target.

Based on EnLink Midstream Partners’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.32 billion and GAAP net loss of $9.3 million. In comparison, last year the company earned revenue of $890 million and had a GAAP net loss of $580 million.

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EnLink Midstream Partners LP engages in the management of pipelines and processing plants. It operates through the following reportable segments: Texas; Louisiana; Oklahoma; Crude and Condensate; and Corporate. The Texas segment deals with natural gas gathering, processing, and transmitting operations. The Louisiana segment includes pipelines, processing plants, and natural gas liquid assets. The Oklahoma segment consists of natural gas gathering and processing operations. The Crude and Condensate segment deals with in crude rail, truck, pipeline, and barge facilities. The Corporate segment refers to general partnership expenses, corporate support, financing costs, and investments. The company was founded on July 12, 2002 and is headquartered in Dallas, TX.,00414S-E