Cushing Asset Management LP grew its holdings in EnLink Midstream LLC (NYSE:ENLC) by 8.5% in the 4th quarter, HoldingsChannel reports. The fund owned 2,049,495 shares of the pipeline company’s stock after buying an additional 161,196 shares during the quarter. Cushing Asset Management LP’s holdings in EnLink Midstream were worth $36,072,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in shares of EnLink Midstream by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock worth $100,000 after acquiring an additional 599 shares in the last quarter. Nationwide Fund Advisors grew its stake in shares of EnLink Midstream by 397.6% in the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 9,599 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of EnLink Midstream in the fourth quarter worth $214,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of EnLink Midstream in the third quarter worth $255,000. Finally, Gator Capital Management LLC acquired a new position in shares of EnLink Midstream in the fourth quarter worth $296,000. Institutional investors and hedge funds own 33.66% of the company’s stock.
EnLink Midstream LLC (NYSE:ENLC) opened at $15.50 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $2,821.77, a price-to-earnings ratio of 390.00 and a beta of 2.58. EnLink Midstream LLC has a 12 month low of $14.55 and a 12 month high of $20.00.
Several equities analysts have commented on ENLC shares. Credit Suisse Group started coverage on shares of EnLink Midstream in a research note on Thursday, January 4th. They issued a “neutral” rating and a $19.00 price target for the company. Bank of America started coverage on shares of EnLink Midstream in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Robert W. Baird set a $21.00 price target on shares of EnLink Midstream and gave the stock a “hold” rating in a research note on Friday, November 17th. Goldman Sachs Group upgraded shares of EnLink Midstream from a “sell” rating to a “neutral” rating in a research note on Friday, November 17th. Finally, UBS Group dropped their price target on shares of EnLink Midstream from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, March 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. EnLink Midstream has a consensus rating of “Hold” and a consensus target price of $18.15.
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About EnLink Midstream
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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