EnLink Midstream, LLC (NYSE:ENLC) Position Cut by Oaktree Capital Management LP

Oaktree Capital Management LP reduced its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 1.0% during the 4th quarter, Holdings Channel reports. The fund owned 2,499,111 shares of the pipeline company’s stock after selling 25,987 shares during the quarter. Oaktree Capital Management LP’s holdings in EnLink Midstream were worth $35,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ENLC. Citigroup Inc. increased its holdings in shares of EnLink Midstream by 0.6% during the third quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 1,473 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in EnLink Midstream by 121.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,559 shares of the pipeline company’s stock valued at $6,770,000 after buying an additional 255,855 shares in the last quarter. Walleye Capital LLC increased its stake in EnLink Midstream by 1,829.6% during the 3rd quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock valued at $4,095,000 after buying an additional 267,619 shares during the period. Icon Wealth Advisors LLC acquired a new position in EnLink Midstream during the 3rd quarter valued at about $107,000. Finally, Merewether Investment Management LP bought a new stake in shares of EnLink Midstream during the 3rd quarter worth about $64,477,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of EnLink Midstream in a research note on Friday. They set 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 given a strong buy rating to the company’s stock. According to MarketBeat, EnLink Midstream currently has an average rating of “Hold” and an average target price of $15.40.

EnLink Midstream Trading Up 2.9 %

Shares of NYSE:ENLC opened at $14.56 on Friday. The stock 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. The company has a 50 day moving average price of $14.58 and a 200 day moving average price of $14.74. EnLink Midstream, LLC has a 1-year low of $11.83 and a 1-year high of $16.40.

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.