EnLink priced the 10.5 million common units in the offering at $28.37 a common unit. The company gave the underwriters of the offering a 30-day option to buy an additional 1.575 million additional common units.
Enlicnk Midstream Partners said it plans to use the net proceeds from the offering, including any net proceeds from the underwriters' exercise of their option, for capital expenditures and general partnership purposes.
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TheStreet Ratings team rates ENLINK MIDSTREAM PARTNERS LP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ENLINK MIDSTREAM PARTNERS LP (ENLK) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins."