Guggenheim Capital LLC lowered its position in EnLink Midstream LLC (NYSE:ENLC) by 64.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,661 shares of the pipeline company’s stock after selling 69,058 shares during the period. Guggenheim Capital LLC’s holdings in EnLink Midstream were worth $736,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Gen IV Investment Opportunities LLC acquired a new position in shares of EnLink Midstream during the fourth quarter worth about $25,476,000. HITE Hedge Asset Management LLC acquired a new position in shares of EnLink Midstream during the third quarter worth about $21,302,000. RR Advisors LLC increased its position in shares of EnLink Midstream by 67.4% in the fourth quarter. RR Advisors LLC now owns 2,148,000 shares of the pipeline company’s stock worth $40,916,000 after buying an additional 865,000 shares during the last quarter. Lubar & Co. Inc increased its position in shares of EnLink Midstream by 76.2% in the third quarter. Lubar & Co. Inc now owns 1,884,440 shares of the pipeline company’s stock worth $31,564,000 after buying an additional 814,998 shares during the last quarter. Finally, Advisory Research Inc. increased its position in shares of EnLink Midstream by 12.1% in the fourth quarter. Advisory Research Inc. now owns 4,238,328 shares of the pipeline company’s stock worth $80,740,000 after buying an additional 455,922 shares during the last quarter. 29.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of EnLink Midstream LLC (NYSE:ENLC) opened at 18.40 on Friday. The stock’s 50 day moving average is $19.22 and its 200-day moving average is $18.19. The stock’s market capitalization is $3.31 billion. EnLink Midstream LLC has a one year low of $12.32 and a one year high of $20.45.
EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, February 14th. The pipeline company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.08. EnLink Midstream had a positive return on equity of 5.66% and a negative net margin of 15.93%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.16 billion. EnLink Midstream’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities research analysts predict that EnLink Midstream LLC will post $0.54 EPS for the current fiscal year.
ENLC has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $21.00 price target on shares of EnLink Midstream in a research report on Thursday, February 16th. Zacks Investment Research raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, January 17th. Credit Suisse Group AG upped their price target on EnLink Midstream from $18.00 to $19.00 and gave the stock an “underperform” rating in a research report on Friday, April 7th. Janney Montgomery Scott initiated coverage on EnLink Midstream in a research report on Friday, March 10th. They set a “neutral” rating and a $21.00 price target on the stock. Finally, Jefferies Group LLC downgraded EnLink Midstream from a “hold” rating to an “underperform” rating and set a $16.00 price target on the stock. in a research report on Thursday, January 12th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $18.00.
EnLink Midstream Company Profile
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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