Spring Capital Management LLC acquired a new position in EnLink Midstream, LLC (NYSE:ENLC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 20,000 shares of the pipeline company's stock, valued at approximately $283,000.
Other institutional investors have also modified their holdings of the company. Merewether Investment Management LP bought a new stake in EnLink Midstream in the third quarter worth about $64,477,000. HITE Hedge Asset Management LLC grew its stake in shares of EnLink Midstream by 2,629.4% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company's stock worth $27,560,000 after purchasing an additional 1,929,551 shares during the last quarter. Brookfield Corp ON raised its holdings in shares of 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 lifted its stake in EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company's stock valued at $30,348,000 after purchasing an additional 1,141,254 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings 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 worth $48,236,000 after buying an additional 812,767 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company's stock.
EnLink Midstream Stock Up 0.4 %
ENLC stock traded up $0.07 during midday trading on Friday, reaching $15.37. The company had a trading volume of 2,791,566 shares, compared to its average volume of 1,802,574. The company has a 50 day moving average of $14.91 and a two-hundred day moving average of $14.38. The company has a market capitalization of $7.02 billion, a P/E ratio of 73.17 and a beta of 2.43. EnLink Midstream, LLC has a 1 year low of $11.53 and a 1 year high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30.
EnLink Midstream (NYSE:ENLC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter in the prior year, the business posted $0.10 earnings per share. EnLink Midstream's revenue was down 7.9% on a year-over-year basis. On average, equities research analysts expect that EnLink Midstream, LLC will post 0.46 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on ENLC shares. StockNews.com initiated coverage on EnLink Midstream in a research report on Wednesday. They set a "hold" rating for the company. UBS Group downgraded EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 target price for the company. in a report on Monday, September 30th. Royal Bank of Canada reissued a "sector perform" rating and issued a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, November 21st. Raymond James lowered shares of EnLink Midstream from an "outperform" rating to a "market perform" rating in a research note on Friday, November 8th. Finally, Mizuho reiterated a "neutral" rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, EnLink Midstream has an average rating of "Hold" and an average price target of $15.40.
View Our Latest Research Report on EnLink Midstream
EnLink Midstream Profile
(
Free Report)
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.
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