Tortoise Capital Advisors L.L.C. lifted its holdings in shares of EnLink Midstream LLC (NYSE:ENLC) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,643,845 shares of the pipeline company’s stock after purchasing an additional 940,205 shares during the period. EnLink Midstream accounts for about 1.1% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 24th largest position. Tortoise Capital Advisors L.L.C. owned 5.87% of EnLink Midstream worth $175,587,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ENLC. Captrust Financial Advisors raised its position in EnLink Midstream by 45.8% in the 4th quarter. Captrust Financial Advisors now owns 55,819 shares of the pipeline company’s stock valued at $352,000 after buying an additional 17,537 shares during the last quarter. Advisory Alpha LLC bought a new stake in shares of EnLink Midstream during the 4th quarter valued at about $63,000. Bank of New York Mellon Corp boosted its position in shares of EnLink Midstream by 37.1% during the 4th quarter. Bank of New York Mellon Corp now owns 8,971,872 shares of the pipeline company’s stock valued at $54,998,000 after purchasing an additional 2,428,340 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in EnLink Midstream by 30.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,648,294 shares of the pipeline company’s stock worth $22,364,000 after buying an additional 840,984 shares during the period. Finally, Van ECK Associates Corp raised its stake in EnLink Midstream by 74.5% during the 4th quarter. Van ECK Associates Corp now owns 91,001 shares of the pipeline company’s stock worth $558,000 after buying an additional 38,860 shares during the period. Institutional investors own 45.36% of the company’s stock.
Shares of ENLC traded up $0.19 during trading hours on Thursday, hitting $1.14. The company had a trading volume of 8,633,977 shares, compared to its average volume of 6,312,806. The firm has a market cap of $488.45 million, a P/E ratio of -0.48 and a beta of 2.10. The stock’s 50 day moving average price is $3.33 and its 200 day moving average price is $5.58. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25. EnLink Midstream LLC has a 52-week low of $0.90 and a 52-week high of $13.10.
A number of research firms have recently commented on ENLC. Zacks Investment Research lowered EnLink Midstream from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th. Wells Fargo & Co downgraded EnLink Midstream from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research report on Tuesday, January 7th. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 12th. Royal Bank of Canada lowered their price target on EnLink Midstream from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Finally, Barclays downgraded EnLink Midstream from an “equal weight” rating to an “underweight” rating in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. EnLink Midstream currently has an average rating of “Hold” and a consensus target price of $8.50.
EnLink Midstream Company Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.
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