Spirit of America Management Corp NY boosted its position in EnLink Midstream LLC (NYSE:ENLC) by 142.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 845,823 shares of the pipeline company’s stock after acquiring an additional 497,473 shares during the quarter. EnLink Midstream accounts for approximately 1.6% of Spirit of America Management Corp NY’s portfolio, making the stock its 20th largest holding. Spirit of America Management Corp NY owned about 0.17% of EnLink Midstream worth $10,810,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in EnLink Midstream by 263.3% in the fourth quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock valued at $38,000 after acquiring an additional 2,899 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in EnLink Midstream in the fourth quarter valued at $48,000. Parkwood LLC purchased a new stake in EnLink Midstream during the fourth quarter valued at about $102,000. Virtu Financial LLC purchased a new stake in EnLink Midstream during the fourth quarter valued at about $117,000. Finally, South Texas Money Management Ltd. purchased a new stake in EnLink Midstream during the fourth quarter valued at about $126,000. 33.57% of the stock is currently owned by institutional investors and hedge funds.
NYSE ENLC traded down $0.11 during trading on Wednesday, hitting $12.50. 264,603 shares of the company’s stock traded hands, compared to its average volume of 1,895,043. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.81. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of -178.57, a PEG ratio of 11.12 and a beta of 2.29. EnLink Midstream LLC has a 12-month low of $8.90 and a 12-month high of $18.40.
Several analysts have issued reports on ENLC shares. Zacks Investment Research lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Barclays started coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an “equal weight” rating and a $14.00 price target for the company. ValuEngine upgraded shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Citigroup started coverage on shares of EnLink Midstream in a research report on Tuesday, March 12th. They set a “buy” rating and a $13.00 price target for the company. Finally, Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.17.
In other news, major shareholder Goldman Sachs Group Inc bought 24,791 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was bought at an average cost of $10.86 per share, for a total transaction of $269,230.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.45% of the company’s stock.
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About EnLink Midstream
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.
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