Palo Duro Investment Partners LP Acquires 5,332 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Palo Duro Investment Partners LP raised its stake in EnLink Midstream, LLC (NYSE:ENLC) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 554,553 shares of the pipeline company’s stock after buying an additional 5,332 shares during the quarter. EnLink Midstream comprises about 2.3% of Palo Duro Investment Partners LP’s portfolio, making the stock its 7th biggest holding. Palo Duro Investment Partners LP’s holdings in EnLink Midstream were worth $7,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its holdings in EnLink Midstream by 5.2% in the fourth quarter. Ameriprise Financial Inc. now owns 15,261 shares of the pipeline company’s stock valued at $216,000 after purchasing an additional 753 shares during the period. HighTower Advisors LLC raised its holdings in EnLink Midstream by 6.1% during the fourth quarter. HighTower Advisors LLC now owns 24,954 shares of the pipeline company’s stock worth $353,000 after purchasing an additional 1,437 shares in the last quarter. Tidal Investments LLC grew 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 worth $266,000 after purchasing an additional 1,623 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of EnLink Midstream by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 31,271 shares of the pipeline company’s stock valued at $442,000 after purchasing an additional 2,324 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of EnLink Midstream by 2.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 99,070 shares of the pipeline company’s stock worth $1,402,000 after acquiring an additional 2,787 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

EnLink Midstream Stock Performance

Shares of ENLC opened at $14.56 on Wednesday. The company’s 50 day simple moving average is $14.56 and its 200 day simple moving average is $14.72. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. EnLink Midstream, LLC has a 1 year low of $11.83 and a 1 year high of $16.40. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of EnLink Midstream in a research note on Wednesday, May 7th. They set a “hold” rating for the company. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.33.

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.