State of New Jersey Common Pension Fund D Has $1.90 Million Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

State of New Jersey Common Pension Fund D decreased its stake in EnLink Midstream, LLC (NYSE:ENLC) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,562 shares of the pipeline company’s stock after selling 12,806 shares during the period. State of New Jersey Common Pension Fund D’s holdings in EnLink Midstream were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Merewether Investment Management LP acquired a new position in shares of EnLink Midstream during the third quarter worth approximately $64,477,000. Brookfield Corp ON lifted its position in EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after acquiring an additional 1,775,203 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in EnLink Midstream by 120.1% in 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. Two Sigma Advisers LP lifted its stake in 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 acquiring an additional 430,600 shares in the last quarter. Finally, ABC Arbitrage SA bought a new position in shares of EnLink Midstream in the fourth quarter valued at approximately $5,291,000. 45.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, November 21st. Mizuho reaffirmed a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, StockNews.com initiated coverage on EnLink Midstream in a report on Monday. They set a “hold” rating for the company. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Performance

Shares of ENLC stock opened at $14.56 on Tuesday. 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 stock has a fifty day moving average of $14.51 and a 200 day moving average of $14.56. EnLink Midstream, LLC has a 52 week low of $11.55 and a 52 week high of $16.40. The company has a quick ratio of 0.42, a current 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.