ABC Arbitrage SA Purchases Shares of 373,889 EnLink Midstream, LLC (NYSE:ENLC)

ABC Arbitrage SA bought a new position in shares of EnLink Midstream, LLC (NYSE:ENLC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 373,889 shares of the pipeline company’s stock, valued at approximately $5,291,000. EnLink Midstream comprises about 0.8% of ABC Arbitrage SA’s portfolio, making the stock its 28th biggest holding. ABC Arbitrage SA owned about 0.08% of EnLink Midstream as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ENLC. Merewether Investment Management LP acquired a new position in shares of EnLink Midstream in the 3rd quarter valued at approximately $64,477,000. Brookfield Corp ON raised its holdings in EnLink Midstream by 97.1% during 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 during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake 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 during the last quarter. Miller Howard Investments Inc. NY lifted its stake in shares of EnLink Midstream by 1.4% in the 4th quarter. Miller Howard Investments Inc. NY now owns 2,320,292 shares of the pipeline company’s stock valued at $32,832,000 after purchasing an additional 33,025 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its holdings in shares of EnLink Midstream by 120.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after buying an additional 1,141,254 shares in the last quarter. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Up 2.9 %

Shares of NYSE ENLC 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 quick ratio of 0.42 and a current ratio of 0.42. The stock has a 50 day moving average price of $14.54 and a 200 day moving average price of $14.46. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Mizuho reaffirmed a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. StockNews.com initiated coverage on shares of EnLink Midstream in a report on Saturday, February 8th. They issued a “hold” rating on the stock. Raymond James downgraded shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Company Profile

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.