Pinnacle Holdings LLC lowered its stake in shares of EnLink Midstream Partners LP (NYSE:ENLK) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 217,372 shares of the oil and gas producer’s stock after selling 5,175 shares during the quarter. EnLink Midstream Partners accounts for 1.2% of Pinnacle Holdings LLC’s holdings, making the stock its 20th biggest holding. Pinnacle Holdings LLC’s holdings in EnLink Midstream Partners were worth $3,341,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENLK. First Dallas Securities Inc. bought a new position in shares of EnLink Midstream Partners during the 4th quarter valued at approximately $109,000. Stuart Chaussee & Associates Inc. bought a new position in EnLink Midstream Partners in the 4th quarter valued at $143,000. Saratoga Research & Investment Management bought a new position in EnLink Midstream Partners in the 3rd quarter valued at $156,000. The Manufacturers Life Insurance Company grew its position in EnLink Midstream Partners by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,147 shares of the oil and gas producer’s stock valued at $189,000 after acquiring an additional 816 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new position in EnLink Midstream Partners in the 3rd quarter valued at $194,000. 42.15% of the stock is currently owned by hedge funds and other institutional investors.
ENLK has been the topic of several research analyst reports. Credit Suisse Group initiated coverage on EnLink Midstream Partners in a research report on Friday, January 5th. They issued a “neutral” rating and a $16.00 price objective on the stock. Morgan Stanley upped their price objective on EnLink Midstream Partners from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. BidaskClub downgraded EnLink Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. Zacks Investment Research downgraded EnLink Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, ValuEngine downgraded EnLink Midstream Partners from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.33.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Wednesday, January 31st were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 10.12%. The ex-dividend date of this dividend was Tuesday, January 30th. EnLink Midstream Partners’s dividend payout ratio is 3,120.62%.
WARNING: “Pinnacle Holdings LLC Has $3.34 Million Stake in EnLink Midstream Partners LP (ENLK)” was posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.com-unik.info/2018/02/23/pinnacle-holdings-llc-has-3-34-million-stake-in-enlink-midstream-partners-lp-enlk.html.
EnLink Midstream Partners Profile
EnLink Midstream Partners, LP is a midstream company. The Company’s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP (the Operating Partnership) and the subsidiaries of the Operating Partnership. The Company operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate.
Want to see what other hedge funds are holding ENLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EnLink Midstream Partners LP (NYSE:ENLK).
Receive News & Ratings for EnLink Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.