Concurrent Investment Advisors LLC Cuts Position in EnLink Midstream, LLC (NYSE:ENLC)

Concurrent Investment Advisors LLC cut its stake in EnLink Midstream, LLC (NYSE:ENLC) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,819 shares of the pipeline company’s stock after selling 800 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in EnLink Midstream were worth $648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alberta Investment Management Corp purchased a new position in shares of EnLink Midstream in the 4th quarter valued at $1,415,000. Atria Wealth Solutions Inc. purchased a new position in shares of EnLink Midstream in the 4th quarter valued at $272,000. Venturi Wealth Management LLC purchased a new position in shares of EnLink Midstream in the 4th quarter valued at $55,000. Sanctuary Advisors LLC increased its holdings in shares of EnLink Midstream by 22.8% in the 4th quarter. Sanctuary Advisors LLC now owns 36,883 shares of the pipeline company’s stock valued at $521,000 after acquiring an additional 6,852 shares during the period. Finally, Lee Financial Co increased its holdings in shares of EnLink Midstream by 4.3% in the 4th quarter. Lee Financial Co now owns 99,535 shares of the pipeline company’s stock valued at $1,408,000 after acquiring an additional 4,086 shares during the period. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENLC has been the topic of several research analyst reports. Mizuho restated a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, October 31st. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. StockNews.com initiated coverage on EnLink Midstream in a research note on Monday. They set a “hold” rating on the stock. Finally, Royal Bank of Canada restated 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 equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.40.

EnLink Midstream Stock Performance

NYSE ENLC opened at $14.56 on Monday. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43. EnLink Midstream, LLC has a twelve month low of $11.55 and a twelve month high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a 50-day moving average of $14.50 and a 200 day moving average of $14.54.

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.