ABC Arbitrage SA Takes $5.29 Million Position in EnLink Midstream, LLC (NYSE:ENLC)

ABC Arbitrage SA bought a new position in shares of EnLink Midstream, LLC (NYSE:ENLC) during the fourth quarter, Holdings Channel reports. The fund bought 373,889 shares of the pipeline company’s stock, valued at approximately $5,291,000. EnLink Midstream accounts for 0.8% of ABC Arbitrage SA’s holdings, making the stock its 28th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in shares of EnLink Midstream by 100.8% in the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after purchasing an additional 63,997 shares in the last quarter. Segment Wealth Management LLC grew its stake in 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 buying an additional 64,512 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of EnLink Midstream by 26.7% in the 4th quarter. Pacer Advisors Inc. now owns 128,009 shares of the pipeline company’s stock valued at $1,811,000 after acquiring an additional 26,937 shares during the period. Walleye Capital LLC raised its holdings in shares of EnLink Midstream by 1,829.6% in the third quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock valued at $4,095,000 after buying an additional 267,619 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in EnLink Midstream by 268.0% during the 3rd quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock valued at $5,834,000 after acquiring an additional 292,833 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

EnLink Midstream Stock Up 2.9 %

ENLC stock opened at $14.56 on Friday. 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 current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. The company’s 50 day simple moving average is $14.54 and its 200-day simple moving average is $14.46.

Analyst Ratings Changes

Several brokerages have recently weighed in on ENLC. Mizuho reaffirmed a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, November 21st. StockNews.com assumed coverage on shares of EnLink Midstream in a research report on Saturday, February 8th. They issued a “hold” rating for the company. Finally, US Capital Advisors cut EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Eleven investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.40.

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.