Pinnacle Holdings LLC Lowers Holdings in EnLink Midstream LLC (NYSE:ENLC)

Pinnacle Holdings LLC decreased its stake in shares of EnLink Midstream LLC (NYSE:ENLC) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 311,164 shares of the pipeline company’s stock after selling 5,619 shares during the quarter. EnLink Midstream comprises about 1.2% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 22nd biggest holding. Pinnacle Holdings LLC owned about 0.06% of EnLink Midstream worth $3,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of EnLink Midstream by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,314,300 shares of the pipeline company’s stock worth $40,943,000 after purchasing an additional 395,089 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of EnLink Midstream by 5,538.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 15,336 shares of the pipeline company’s stock worth $196,000 after purchasing an additional 15,064 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of EnLink Midstream by 429.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,440 shares of the pipeline company’s stock worth $197,000 after purchasing an additional 12,526 shares in the last quarter. Comerica Bank bought a new stake in shares of EnLink Midstream in the 1st quarter worth $189,000. Finally, California Public Employees Retirement System increased its holdings in shares of EnLink Midstream by 311.4% in the 1st quarter. California Public Employees Retirement System now owns 323,462 shares of the pipeline company’s stock worth $4,134,000 after purchasing an additional 244,839 shares in the last quarter. Institutional investors and hedge funds own 50.01% of the company’s stock.

Several analysts recently commented on the company. UBS Group cut their price objective on EnLink Midstream from $12.00 to $11.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $12.00 price objective on shares of EnLink Midstream in a report on Sunday, August 11th. Credit Suisse Group lowered EnLink Midstream from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $13.50 to $8.00 in a report on Monday, August 19th. Barclays reaffirmed a “hold” rating and issued a $12.00 price objective on shares of EnLink Midstream in a report on Thursday, July 18th. Finally, Mizuho assumed coverage on EnLink Midstream in a report on Thursday, July 25th. They issued a “neutral” rating and a $11.50 price objective for the company. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $11.55.

Shares of ENLC traded up $0.25 during trading hours on Friday, hitting $8.42. The stock had a trading volume of 137,044 shares, compared to its average volume of 2,868,620. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. EnLink Midstream LLC has a 12 month low of $7.03 and a 12 month high of $17.60. The firm has a market capitalization of $4.08 billion, a PE ratio of -121.14, a PEG ratio of 6.27 and a beta of 2.02. The stock has a fifty day moving average price of $8.19 and a 200 day moving average price of $10.44.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). EnLink Midstream had a negative return on equity of 0.16% and a negative net margin of 3.21%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm earned $0.15 EPS. The business’s revenue was down 3.1% on a year-over-year basis. As a group, analysts anticipate that EnLink Midstream LLC will post 0.33 EPS for the current fiscal year.

In related news, Chairman Barry E. Davis bought 136,700 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $7.32 per share, for a total transaction of $1,000,644.00. Following the completion of the transaction, the chairman now owns 1,892,372 shares of the company’s stock, valued at $13,852,163.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kyle D. Vann bought 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $7.44 per share, for a total transaction of $148,800.00. Following the completion of the transaction, the director now directly owns 99,907 shares of the company’s stock, valued at approximately $743,308.08. The disclosure for this purchase can be found here. 1.45% of the stock is currently owned by insiders.

EnLink Midstream Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.

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Institutional Ownership by Quarter for EnLink Midstream (NYSE:ENLC)

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