Hennessy Advisors Inc. Lowers Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

Hennessy Advisors Inc. decreased its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 96.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,300 shares of the pipeline company’s stock after selling 2,707,800 shares during the quarter. Hennessy Advisors Inc.’s holdings in EnLink Midstream were worth $1,504,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Tidal Investments LLC raised its stake in EnLink Midstream by 9.7% during the 3rd quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock valued at $266,000 after acquiring an additional 1,623 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of EnLink Midstream during the third quarter worth approximately $98,000. Sanctuary Advisors LLC lifted its holdings in shares of EnLink Midstream by 8.5% during the third quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock worth $473,000 after purchasing an additional 2,362 shares during the period. Zimmer Partners LP purchased a new position in EnLink Midstream in the 3rd quarter valued at $363,000. Finally, Brookfield Corp ON increased its stake in EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after buying an additional 1,775,203 shares during the period. Institutional investors and hedge funds own 45.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho reaffirmed a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. US Capital Advisors cut EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. StockNews.com assumed coverage on EnLink Midstream in a research note on Wednesday. They set a “hold” rating for the company. UBS Group downgraded EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Monday, September 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $15.37 on Friday. 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 company has a market capitalization of $7.02 billion, a P/E ratio of 73.17 and a beta of 2.43. The firm has a 50-day moving average price of $14.91 and a two-hundred day moving average price of $14.38. EnLink Midstream, LLC has a twelve month low of $11.53 and a twelve month high of $16.40.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data 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 company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, research analysts expect that EnLink Midstream, LLC will post 0.46 earnings per share for the current fiscal year.

EnLink Midstream 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.