Alps Advisors Inc. bought a new position in EnLink Midstream LLC (NYSE:ENLC) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 60,564 shares of the company’s stock, valued at approximately $964,000.
Several other hedge funds also recently modified their holdings of the company. Groesbeck Investment Management Corp NJ bought a new stake in shares of EnLink Midstream during the first quarter worth approximately $131,000. Hollencrest Securities LLC bought a new stake in shares of EnLink Midstream during the second quarter worth approximately $264,000. BlackRock Fund Advisors increased its stake in shares of EnLink Midstream by 1.3% in the first quarter. BlackRock Fund Advisors now owns 29,076 shares of the company’s stock worth $327,000 after buying an additional 371 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of EnLink Midstream by 40.0% in the second quarter. Nisa Investment Advisors LLC now owns 21,000 shares of the company’s stock worth $334,000 after buying an additional 6,000 shares during the last quarter. Finally, HBK Investments L P bought a new stake in shares of EnLink Midstream during the first quarter worth approximately $609,000. Hedge funds and other institutional investors own 25.31% of the company’s stock.
EnLink Midstream LLC (NYSE:ENLC) traded up 4.95% during midday trading on Friday, hitting $16.75. The company had a trading volume of 2,020,839 shares. The stock’s 50-day moving average price is $16.56 and its 200-day moving average price is $14.87. The stock’s market cap is $3.02 billion. EnLink Midstream LLC has a 52-week low of $6.41 and a 52-week high of $23.60.
ENLC has been the topic of a number of recent research reports. Citigroup Inc. restated a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of EnLink Midstream in a research note on Tuesday, June 28th. Barclays PLC downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $15.00 to $16.00 in a research report on Monday, June 20th. Wunderlich increased their price target on EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, August 31st. Jefferies Group downgraded EnLink Midstream from a “buy” rating to a “hold” rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, June 8th. Finally, Robert W. Baird upgraded EnLink Midstream from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $8.00 to $16.00 in a research report on Tuesday, June 28th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $16.21.
About EnLink Midstream
EnLink Midstream, LLC is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). 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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