Hennessy Advisors Inc. Lowers Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Hennessy Advisors Inc. lessened its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 96.2% during the fourth quarter, HoldingsChannel reports. The firm owned 106,300 shares of the pipeline company’s stock after selling 2,707,800 shares during the quarter. Hennessy Advisors Inc.’s holdings in EnLink Midstream were worth $1,504,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ENLC. Bank of New York Mellon Corp lifted its holdings in shares of EnLink Midstream by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after acquiring an additional 1,151 shares during the period. Dimensional Fund Advisors LP raised its stake in EnLink Midstream by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock worth $93,884,000 after purchasing an additional 133,327 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of EnLink Midstream by 64.4% in the 2nd quarter. Hsbc Holdings PLC now owns 33,646 shares of the pipeline company’s stock valued at $459,000 after purchasing an additional 13,183 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of EnLink Midstream during the 2nd quarter valued at $183,000. Finally, Sei Investments Co. acquired a new stake in shares of EnLink Midstream during the 2nd quarter worth $363,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

EnLink Midstream Stock Up 0.4 %

Shares of NYSE ENLC opened at $15.37 on Friday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. EnLink Midstream, LLC has a 1 year low of $11.53 and a 1 year high of $16.40. The stock’s 50-day simple moving average is $14.91 and its 200-day simple moving average is $14.38. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 73.17 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, equities analysts anticipate that EnLink Midstream, LLC will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ENLC. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Raymond James downgraded 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 reaffirmed 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 began coverage on shares of EnLink Midstream in a research report on Wednesday. They issued a “hold” rating for the company. Finally, UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Monday, September 30th. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.