Fox Run Management L.L.C. Lowers Holdings in EnLink Midstream LLC (ENLC)

Fox Run Management L.L.C. trimmed its stake in shares of EnLink Midstream LLC (NYSE:ENLC) by 49.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,395 shares of the pipeline company’s stock after selling 16,759 shares during the quarter. Fox Run Management L.L.C.’s holdings in EnLink Midstream were worth $286,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ENLC. Principal Financial Group Inc. raised its stake in shares of EnLink Midstream by 28.8% during the 1st quarter. Principal Financial Group Inc. now owns 2,967,940 shares of the pipeline company’s stock valued at $43,481,000 after purchasing an additional 662,795 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in shares of EnLink Midstream by 14.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,960,576 shares of the pipeline company’s stock valued at $81,601,000 after purchasing an additional 632,450 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of EnLink Midstream by 13.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,770 shares of the pipeline company’s stock valued at $59,446,000 after purchasing an additional 440,606 shares during the period. Citadel Advisors LLC grew its position in EnLink Midstream by 1,756.7% during the second quarter. Citadel Advisors LLC now owns 392,576 shares of the pipeline company’s stock worth $6,458,000 after buying an additional 371,432 shares in the last quarter. Finally, Millennium Management LLC grew its position in EnLink Midstream by 33.6% during the second quarter. Millennium Management LLC now owns 1,464,440 shares of the pipeline company’s stock worth $24,090,000 after buying an additional 368,066 shares in the last quarter. Institutional investors own 32.40% of the company’s stock.

In other news, EVP Alaina K. Brooks sold 48,442 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $17.36, for a total value of $840,953.12. Following the completion of the transaction, the executive vice president now directly owns 78,190 shares in the company, valued at approximately $1,357,378.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.24% of the stock is currently owned by corporate insiders.

ENLC opened at $16.00 on Friday. EnLink Midstream LLC has a 12-month low of $13.80 and a 12-month high of $20.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $2.98 billion, a PE ratio of -320.00 and a beta of 2.62.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). EnLink Midstream had a return on equity of 0.86% and a net margin of 3.73%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. EnLink Midstream’s revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, equities research analysts expect that EnLink Midstream LLC will post 0.45 EPS for the current year.

Several research firms recently commented on ENLC. Credit Suisse Group began coverage on EnLink Midstream in a research report on Thursday. They set a “neutral” rating and a $19.00 target price for the company. Zacks Investment Research cut EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Barclays boosted their target price on EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, August 29th. Finally, Raymond James restated a “buy” rating and set a $19.00 target price on shares of EnLink Midstream in a research report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.86.

EnLink Midstream Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.

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

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