Principal Financial Group Inc. Lowers Position in EnLink Midstream Partners LP (ENLK)

Principal Financial Group Inc. lowered its position in EnLink Midstream Partners LP (NYSE:ENLK) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,524,963 shares of the oil and gas producer’s stock after selling 119,848 shares during the period. Principal Financial Group Inc. owned approximately 1.00% of EnLink Midstream Partners worth $38,811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. grew its holdings in EnLink Midstream Partners by 75.6% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,212,687 shares of the oil and gas producer’s stock valued at $264,924,000 after buying an additional 6,120,721 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in EnLink Midstream Partners by 5,409.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,428,452 shares of the oil and gas producer’s stock valued at $37,747,000 after buying an additional 3,366,226 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in EnLink Midstream Partners during the 3rd quarter valued at $43,657,000. Virtus ETF Advisers LLC acquired a new stake in EnLink Midstream Partners during the 3rd quarter valued at $43,208,000. Finally, Alps Advisors Inc. grew its holdings in EnLink Midstream Partners by 14.2% during the 4th quarter. Alps Advisors Inc. now owns 16,715,709 shares of the oil and gas producer’s stock valued at $184,040,000 after buying an additional 2,078,394 shares during the last quarter. Institutional investors and hedge funds own 42.84% of the company’s stock.

ENLK stock opened at $12.05 on Monday. EnLink Midstream Partners LP has a 52-week low of $10.31 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.74 and a current ratio of 0.85. The firm has a market cap of $4.25 billion, a PE ratio of 401.67 and a beta of 2.02.

A number of equities research analysts have commented on the company. Zacks Investment Research upgraded EnLink Midstream Partners from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, January 8th. ValuEngine cut EnLink Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, January 25th. Finally, Jefferies Financial Group upgraded EnLink Midstream Partners from a “hold” rating to a “buy” rating and lowered their target price for the company from $18.00 to $15.00 in a report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.79.

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EnLink Midstream Partners Company Profile

EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.

Further Reading: No Load Funds

Institutional Ownership by Quarter for EnLink Midstream Partners (NYSE:ENLK)

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