Pacer Advisors Inc. Raises Position in EnLink Midstream, LLC (NYSE:ENLC)

Pacer Advisors Inc. grew its position in EnLink Midstream, LLC (NYSE:ENLC) by 26.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 128,009 shares of the pipeline company’s stock after buying an additional 26,937 shares during the period. Pacer Advisors Inc.’s holdings in EnLink Midstream were worth $1,811,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of EnLink Midstream during the fourth quarter valued at approximately $114,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of EnLink Midstream during the fourth quarter valued at approximately $2,053,000. Segment Wealth Management LLC raised its holdings in shares of EnLink Midstream by 44.8% during the fourth quarter. Segment Wealth Management LLC now owns 208,381 shares of the pipeline company’s stock valued at $2,949,000 after purchasing an additional 64,512 shares during the last quarter. Spring Capital Management LLC purchased a new position in shares of EnLink Midstream during the fourth quarter valued at approximately $283,000. Finally, Tidal Investments LLC raised its holdings in shares of EnLink Midstream by 9.7% during the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock valued at $266,000 after purchasing an additional 1,623 shares during the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

EnLink Midstream Stock Performance

ENLC opened at $14.56 on Friday. The firm 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 $11.55 and a 1-year high of $16.40. The company has a 50 day simple moving average of $14.74 and a two-hundred day simple moving average of $14.43. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. Equities analysts forecast that EnLink Midstream, LLC will post 0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on ENLC. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. US Capital Advisors cut shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Mizuho reaffirmed a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. StockNews.com initiated coverage on shares of EnLink Midstream in a report on Friday. They set a “hold” rating for the company. Finally, Raymond James cut shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.