Raymond James Financial Inc. Purchases Shares of 189,996 EnLink Midstream, LLC (NYSE:ENLC)

Raymond James Financial Inc. acquired a new position in EnLink Midstream, LLC (NYSE:ENLC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 189,996 shares of the pipeline company’s stock, valued at approximately $2,688,000.

Several other hedge funds and other institutional investors have also modified their holdings of ENLC. Merewether Investment Management LP acquired a new stake in EnLink Midstream in the third quarter valued at approximately $64,477,000. Brookfield Corp ON lifted its position in shares of EnLink Midstream by 97.1% during the third 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. Two Sigma Advisers LP increased its holdings in EnLink Midstream by 57.4% in the third 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. ABC Arbitrage SA acquired a new position in shares of EnLink Midstream in the 4th quarter worth approximately $5,291,000. Finally, Wellington Management Group LLP lifted its stake in EnLink Midstream by 268.0% during the third quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock worth $5,834,000 after purchasing an additional 292,833 shares during the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of EnLink Midstream in a report on Friday. They issued a “hold” rating on the stock. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Price Performance

Shares of ENLC opened at $14.56 on Friday. The stock’s fifty day moving average is $14.58 and its 200-day moving average is $14.74. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43. 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 one year low of $11.83 and a one year 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.