Raymond James downgraded EnLink Midstream (ENLC) to Market Perform from Outperform without a price target. The firm says the recent run in EnLink’s share price likely sufficiently compensates investors for the probability-weighted premium Oneok (OKE) could pay. There remains the probability that Oneok could pay up and pay more for EnLink, but there is also a reasonable argument that the $14.90 per share GIP received should be on the high end of what Oneok pays, the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ENLC: