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

Concurrent Investment Advisors LLC trimmed its position in EnLink Midstream, LLC (NYSE:ENLC) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,819 shares of the pipeline company’s stock after selling 800 shares during the period. Concurrent Investment Advisors LLC’s holdings in EnLink Midstream were worth $648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new stake in EnLink Midstream in the fourth quarter worth $55,000. Wilmington Savings Fund Society FSB purchased a new stake in EnLink Midstream in the third quarter worth $98,000. Icon Wealth Advisors LLC purchased a new stake in EnLink Midstream in the third quarter worth $107,000. SG Americas Securities LLC purchased a new stake in EnLink Midstream in the fourth quarter worth $114,000. Finally, Inscription Capital LLC purchased a new stake in EnLink Midstream in the third quarter worth $154,000. 45.87% of the stock is owned by hedge funds and other institutional investors.

EnLink Midstream Stock Performance

Shares of ENLC opened at $14.56 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The business has a 50-day simple moving average of $14.50 and a two-hundred day simple moving average of $14.54. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 69.33 and a beta of 2.43. EnLink Midstream, LLC has a 52 week low of $11.55 and a 52 week high of $16.40.

Analyst Upgrades and Downgrades

ENLC has been the topic of several analyst reports. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, November 21st. StockNews.com initiated coverage on EnLink Midstream in a report on Monday. They issued a “hold” rating on the stock. Finally, Mizuho reaffirmed a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. Eleven 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.40.

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.