Fractal Investments LLC Reduces Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Fractal Investments LLC lessened its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,133,949 shares of the pipeline company’s stock after selling 43,658 shares during the quarter. EnLink Midstream comprises 4.6% of Fractal Investments LLC’s portfolio, making the stock its 7th largest position. Fractal Investments LLC owned approximately 0.47% of EnLink Midstream worth $30,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in EnLink Midstream in the third quarter worth about $98,000. Icon Wealth Advisors LLC bought a new position in EnLink Midstream in the 3rd quarter valued at approximately $107,000. SG Americas Securities LLC purchased a new stake in EnLink Midstream during the 4th quarter valued at $114,000. Inscription Capital LLC bought a new stake in shares of EnLink Midstream in the 3rd quarter worth $154,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of EnLink Midstream in the third quarter worth $174,000. Institutional investors own 45.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ENLC shares. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Mizuho reissued a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. StockNews.com initiated coverage on EnLink Midstream in a research note on Friday, January 31st. They issued a “hold” rating for the company. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, November 21st. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Performance

NYSE ENLC opened at $14.56 on Thursday. The business’s 50 day moving average price is $14.69 and its 200-day moving average price is $14.44. EnLink Midstream, LLC has a fifty-two week low of $11.55 and a fifty-two week high of $16.40. The company 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 quick ratio of 0.42 and a current ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company posted $0.10 EPS. The company’s revenue was down 7.9% compared to the same quarter last year. Sell-side analysts predict that EnLink Midstream, LLC will post 0.46 earnings per share for the current year.

About EnLink Midstream

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.