American Century Companies Inc. Cuts Holdings in EnLink Midstream, LLC (NYSE:ENLC)

American Century Companies Inc. lessened its stake in EnLink Midstream, LLC (NYSE:ENLC) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,526,950 shares of the pipeline company’s stock after selling 48,024 shares during the quarter. American Century Companies Inc. owned 0.33% of EnLink Midstream worth $21,606,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in 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 raised its holdings in shares of 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 purchasing an additional 1,775,203 shares in the last quarter. Two Sigma Advisers LP lifted its position 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 worth $17,137,000 after purchasing an additional 430,600 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of EnLink Midstream during the fourth quarter worth $6,049,000. Finally, ABC Arbitrage SA purchased a new position in EnLink Midstream in the fourth quarter valued at $5,291,000. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Stock Up 2.9 %

Shares of NYSE:ENLC opened at $14.56 on Monday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The stock 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 1-year low of $11.83 and a 1-year high of $16.40. The firm has a fifty day moving average price of $14.58 and a 200 day moving average price of $14.74.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on EnLink Midstream in a research report on Friday. They set a “hold” rating for the company. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.40.

EnLink Midstream 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.