EnLink Midstream, LLC (NYSE:ENLC) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 530,252 shares of the pipeline company’s stock after acquiring an additional 1,192 shares during the period. Exchange Traded Concepts LLC’s holdings in EnLink Midstream were worth $7,503,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Merewether Investment Management LP acquired a new position in shares of EnLink Midstream in the 3rd quarter worth $64,477,000. Brookfield Corp ON increased its stake in EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock worth $52,285,000 after purchasing an additional 1,775,203 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in EnLink Midstream by 120.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after buying an additional 1,141,254 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in EnLink Midstream by 32.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock valued at $48,236,000 after buying an additional 812,767 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of EnLink Midstream by 1,433.6% in the second quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock worth $6,850,000 after buying an additional 465,383 shares during the period. Institutional investors and hedge funds own 45.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ENLC. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research report on Monday, September 30th. Mizuho reaffirmed a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, October 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, November 21st. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Raymond James cut shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Trading Down 0.4 %

Shares of NYSE:ENLC opened at $14.72 on Friday. EnLink Midstream, LLC has a 1 year low of $11.55 and a 1 year high of $16.40. The firm has a fifty day moving average price of $14.89 and a 200 day moving average price of $14.41. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a market capitalization of $6.73 billion, a PE ratio of 70.07 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company earned $0.10 EPS. EnLink Midstream’s revenue for the quarter was down 7.9% compared to the same quarter last year. Analysts expect that EnLink Midstream, LLC will post 0.46 EPS for the current fiscal year.

EnLink Midstream Company Profile

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.