EnLink Midstream, LLC (NYSE:ENLC) Stake Lessened by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,102,977 shares of the pipeline company’s stock after selling 411,482 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in EnLink Midstream were worth $58,057,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Merewether Investment Management LP purchased a new position in EnLink Midstream during the 3rd quarter valued at about $64,477,000. Brookfield Corp ON grew its position in EnLink Midstream by 97.1% during the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after purchasing an additional 1,775,203 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in EnLink Midstream by 1.4% in the 4th quarter. Miller Howard Investments Inc. NY now owns 2,320,292 shares of the pipeline company’s stock valued at $32,832,000 after buying an additional 33,025 shares during the period. Vanguard Group Inc. lifted its position in EnLink Midstream by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,506,362 shares of the pipeline company’s stock worth $21,315,000 after buying an additional 18,285 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of EnLink Midstream by 57.4% during the 3rd quarter. Two Sigma Advisers LP now owns 1,181,021 shares of the pipeline company’s stock valued at $17,137,000 after buying an additional 430,600 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Price Performance

NYSE ENLC opened at $14.56 on Wednesday. EnLink Midstream, LLC has a fifty-two week low of $11.83 and a fifty-two week high of $16.40. The stock’s 50-day moving average is $14.54 and its two-hundred day moving average is $14.74. The firm has a market cap of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

Analyst Ratings Changes

Separately, StockNews.com began coverage on EnLink Midstream in a research report on Friday, March 28th. They set a “hold” rating for the company. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.40.

EnLink Midstream Company 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.