Comerica Bank Cuts Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Comerica Bank decreased its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 43.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,649 shares of the pipeline company’s stock after selling 5,966 shares during the period. Comerica Bank’s holdings in EnLink Midstream were worth $108,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Pentwater Capital Management LP acquired a new stake in EnLink Midstream during the 4th quarter valued at approximately $36,436,000. CIBC Private Wealth Group LLC lifted its stake in EnLink Midstream by 44.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,109,177 shares of the pipeline company’s stock valued at $45,052,000 after acquiring an additional 960,577 shares during the period. Tortoise Capital Advisors L.L.C. lifted its stake in EnLink Midstream by 5.6% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 10,958,740 shares of the pipeline company’s stock valued at $155,066,000 after acquiring an additional 581,493 shares during the period. Magnetar Financial LLC acquired a new stake in EnLink Midstream during the 4th quarter valued at approximately $6,049,000. Finally, ABC Arbitrage SA acquired a new stake in EnLink Midstream during the 4th quarter valued at approximately $5,291,000. Hedge funds and other institutional investors own 45.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of EnLink Midstream in a report on Thursday. They set a “hold” rating for the company. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.33.

EnLink Midstream Trading Up 2.9%

EnLink Midstream stock opened at $14.56 on Monday. The stock has a market cap of $6.65 billion, a PE ratio of 69.33 and a beta of 2.43. The stock has a 50-day moving average price of $14.56 and a 200 day moving average price of $14.71. EnLink Midstream, LLC has a 52 week low of $11.83 and a 52 week 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.

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.