Van ECK Associates Corp Has $522,000 Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Van ECK Associates Corp cut its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 71.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,859 shares of the pipeline company’s stock after selling 90,603 shares during the quarter. Van ECK Associates Corp’s holdings in EnLink Midstream were worth $522,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Merewether Investment Management LP acquired a new stake in EnLink Midstream during the 3rd quarter worth about $64,477,000. Brookfield Corp ON lifted its holdings in shares of EnLink Midstream by 97.1% during the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after buying an additional 1,775,203 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of EnLink Midstream by 1.4% during 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 buying an additional 33,025 shares during the last quarter. Catalyst Capital Advisors LLC lifted 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 valued at $30,348,000 after buying an additional 1,141,254 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of EnLink Midstream by 57.4% during the 3rd quarter. Two Sigma Advisers LP now owns 1,181,021 shares of the pipeline company’s stock valued at $17,137,000 after buying an additional 430,600 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ENLC. Mizuho reiterated a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. US Capital Advisors lowered EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. StockNews.com began coverage on EnLink Midstream in a report on Sunday, February 16th. They set a “hold” rating for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, November 21st. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Performance

Shares of NYSE ENLC opened at $14.56 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The business’s 50 day moving average is $14.50 and its two-hundred day moving average is $14.51. The company has a market cap of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. EnLink Midstream, LLC has a 12 month low of $11.55 and a 12 month high of $16.40.

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.