EnLink Midstream Partners LP (ENLK) is Downgraded by Credit Suisse to Neutral

EnLink Midstream Partners LP (ENLK) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on EnLink Midstream Partners LP. FBR Capital Initiated EnLink Midstream Partners LP on Sep 9, 2016 to “Outperform”, Price Target of the shares are set at $19.EnLink Midstream Partners LP was Downgraded by Morgan Stanley to ” Equal-Weight” on Sep 2, 2016. Company shares were Reiterated by RBC Capital Mkts on Sep 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 21 from a previous price target of $16 .

On the company’s financial health, EnLink Midstream Partners LP reported $-1.74 EPS for the quarter, missing the analyst consensus estimate by $ -1.82 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.08. The company had revenue of $889.70 million for the quarter, compared to analysts expectations of $1059.09 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

EnLink Midstream Partners LP closed down -0.41 points or -2.24% at $17.9 with 631,764 shares getting traded on Monday. Post opening the session at $17.95, the shares hit an intraday low of $17.51 and an intraday high of $18.11 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 10, 2015, Stan Golemon (Senior Vice President) sold 19,793 shares at $23.40 per share price. According to the SEC, on Jan 23, 2015, Barry E Davis (President & CEO) sold 14,008 shares at $29.59 per share price.

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.

EnLink Midstream Partners LP

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