Entropy Technologies LP Acquires 47,715 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Entropy Technologies LP grew its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 82.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,406 shares of the pipeline company’s stock after buying an additional 47,715 shares during the quarter. Entropy Technologies LP’s holdings in EnLink Midstream were worth $1,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENLC. Sanctuary Advisors LLC bought a new stake in EnLink Midstream during the 2nd quarter worth approximately $384,000. Exchange Traded Concepts LLC grew its holdings in EnLink Midstream by 21.7% during the third quarter. Exchange Traded Concepts LLC now owns 529,060 shares of the pipeline company’s stock worth $7,677,000 after buying an additional 94,311 shares in the last quarter. Raymond James & Associates raised its position in EnLink Midstream by 12.0% in the 3rd quarter. Raymond James & Associates now owns 176,044 shares of the pipeline company’s stock valued at $2,554,000 after buying an additional 18,805 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in EnLink Midstream by 32.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock valued at $48,236,000 after acquiring an additional 812,767 shares in the last quarter. Finally, Segment Wealth Management LLC boosted its holdings in EnLink Midstream by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 143,869 shares of the pipeline company’s stock worth $2,088,000 after acquiring an additional 6,265 shares during the last quarter. 45.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on ENLC. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Raymond James cut shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. StockNews.com assumed coverage on EnLink Midstream in a report on Saturday. They issued a “hold” rating for the company. 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. Finally, Mizuho restated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Trading Up 2.9 %

Shares of EnLink Midstream stock opened at $14.56 on Monday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. EnLink Midstream, LLC has a 52-week low of $11.55 and a 52-week high of $16.40. The stock’s 50-day simple moving average is $14.61 and its 200 day simple moving average is $14.45.

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.