CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $28.33 Million Stake in EnLink Midstream, LLC (NYSE:ENLC)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 39.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,002,284 shares of the pipeline company’s stock after selling 1,322,040 shares during the period. EnLink Midstream makes up 1.9% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 16th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.44% of EnLink Midstream worth $28,332,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $56,000. Wilmington Savings Fund Society FSB acquired 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 during the third quarter worth about $107,000. SG Americas Securities LLC acquired a new stake in EnLink Midstream during the fourth quarter valued at approximately $114,000. Finally, Sunbelt Securities Inc. grew its stake in shares of EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 1,511 shares during the period. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Down 0.4 %

NYSE:ENLC opened at $14.72 on Friday. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 70.07 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. The stock’s fifty day moving average price is $14.89 and its two-hundred day moving average price is $14.41. EnLink Midstream, LLC has a 52-week low of $11.55 and a 52-week high of $16.40.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.16). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. On average, analysts anticipate that EnLink Midstream, LLC will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ENLC shares. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Monday, September 30th. Finally, StockNews.com began coverage on shares of EnLink Midstream in a research note on Thursday. They set a “hold” rating on the stock. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus 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.