Spring Capital Management LLC Invests $283,000 in EnLink Midstream, LLC (NYSE:ENLC)

Spring Capital Management LLC acquired a new stake in shares of EnLink Midstream, LLC (NYSE:ENLC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,000 shares of the pipeline company’s stock, valued at approximately $283,000.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of EnLink Midstream by 100.8% during the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock worth $1,883,000 after acquiring an additional 63,997 shares during the period. Westwood Holdings Group Inc. grew its stake in EnLink Midstream by 4.7% in the second quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock worth $32,363,000 after purchasing an additional 106,467 shares in the last quarter. Walleye Capital LLC increased its holdings in EnLink Midstream by 1,829.6% during the 3rd quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock worth $4,095,000 after purchasing an additional 267,619 shares during the period. Wellington Management Group LLP raised its position in EnLink Midstream by 268.0% during the 3rd quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock valued at $5,834,000 after purchasing an additional 292,833 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its holdings in shares of EnLink Midstream by 120.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after buying an additional 1,141,254 shares during the period. Institutional investors own 45.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, November 21st. StockNews.com initiated coverage on shares of EnLink Midstream in a research report on Wednesday. They issued a “hold” rating for the company. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Monday, September 30th. Eleven 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Stock Performance

Shares of ENLC stock opened at $15.37 on Friday. EnLink Midstream, LLC has a 12-month low of $11.53 and a 12-month high of $16.40. The business’s fifty day simple moving average is $14.91 and its 200-day simple moving average is $14.37. 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 cap of $7.02 billion, a PE ratio of 73.17 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last announced its 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 business 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 quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. 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.