Pacer Advisors Inc. Buys 26,937 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Pacer Advisors Inc. raised its stake in shares of EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 128,009 shares of the pipeline company's stock after buying an additional 26,937 shares during the period. Pacer Advisors Inc.'s holdings in EnLink Midstream were worth $1,811,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of EnLink Midstream in the 4th quarter valued at $114,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of EnLink Midstream in the fourth quarter valued at about $2,053,000. Segment Wealth Management LLC raised its holdings in shares of EnLink Midstream by 44.8% during the 4th quarter. Segment Wealth Management LLC now owns 208,381 shares of the pipeline company's stock worth $2,949,000 after acquiring an additional 64,512 shares during the period. Spring Capital Management LLC acquired a new stake in shares of EnLink Midstream during the 4th quarter worth about $283,000. Finally, Tidal Investments LLC grew its stake in shares of EnLink Midstream by 9.7% in the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company's stock valued at $266,000 after buying an additional 1,623 shares in the last quarter. Institutional investors own 45.87% of the company's stock.

Wall Street Analyst Weigh In

ENLC has been the topic of a number of recent analyst reports. Raymond James downgraded EnLink Midstream from an "outperform" rating to a "market perform" rating in a report on Friday, November 8th. Royal Bank of Canada restated a "sector perform" rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. StockNews.com started coverage on shares of EnLink Midstream in a research report on Friday, January 31st. They set a "hold" rating for the company. US Capital Advisors lowered EnLink Midstream from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Finally, Mizuho reissued a "neutral" rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $15.40.

EnLink Midstream Stock Up 2.9 %

Shares of ENLC stock traded up $0.41 during mid-day trading on Wednesday, hitting $14.56. The company's stock had a trading volume of 95,115,676 shares, compared to its average volume of 3,910,954. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43. EnLink Midstream, LLC has a 52-week low of $11.55 and a 52-week high of $16.40. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50-day moving average price of $14.69 and a 200 day moving average price of $14.44.

EnLink Midstream (NYSE:ENLC - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company's revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. Research analysts predict that EnLink Midstream, LLC will post 0.46 EPS for the current fiscal year.

About EnLink Midstream

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.