Deerfield Management Company L.P. Series C Purchases New Shares in EnLink Midstream, LLC (NYSE:ENLC)

Deerfield Management Company L.P. Series C acquired a new stake in shares of EnLink Midstream, LLC (NYSE:ENLC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,257 shares of the pipeline company’s stock, valued at approximately $145,000.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of EnLink Midstream by 586.0% during the 4th quarter. Bank of America Corp DE now owns 3,266,206 shares of the pipeline company’s stock valued at $46,217,000 after acquiring an additional 2,790,050 shares in the last quarter. Pentwater Capital Management LP bought a new stake in shares of EnLink Midstream during the 4th quarter worth about $36,436,000. Blackstone Inc. increased its holdings in shares of EnLink Midstream by 36.1% during the 4th quarter. Blackstone Inc. now owns 4,349,618 shares of the pipeline company’s stock valued at $61,547,000 after acquiring an additional 1,153,872 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of EnLink Midstream by 31.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,167,451 shares of the pipeline company’s stock valued at $58,969,000 after acquiring an additional 991,887 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in EnLink Midstream by 44.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,109,177 shares of the pipeline company’s stock worth $45,052,000 after purchasing an additional 960,577 shares during the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of EnLink Midstream in a research note on Wednesday. They issued a “hold” rating for the company. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.33.

EnLink Midstream Price Performance

Shares of ENLC stock opened at $14.56 on Thursday. The firm’s 50 day moving average is $14.56 and its 200-day moving average is $14.72. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43. EnLink Midstream, LLC has a 1 year low of $11.83 and a 1 year high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30.

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.