CIBC Private Wealth Group LLC Acquires 960,577 Shares of EnLink Midstream, LLC (NYSE:ENLC)

CIBC Private Wealth Group LLC grew its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 44.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,109,177 shares of the pipeline company’s stock after purchasing an additional 960,577 shares during the period. CIBC Private Wealth Group LLC owned about 0.68% of EnLink Midstream worth $45,052,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ENLC. Venturi Wealth Management LLC acquired a new stake in EnLink Midstream during the fourth quarter worth approximately $55,000. Farther Finance Advisors LLC lifted its position in shares of EnLink Midstream by 20,947.6% during the 4th quarter. Farther Finance Advisors LLC now owns 4,420 shares of the pipeline company’s stock valued at $63,000 after acquiring an additional 4,399 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of EnLink Midstream during the 3rd quarter worth $98,000. Icon Wealth Advisors LLC bought a new position in shares of EnLink Midstream in the third quarter worth $107,000. Finally, SG Americas Securities LLC bought a new position in shares of EnLink Midstream in the fourth quarter worth $114,000. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Stock Up 2.9 %

ENLC stock opened at $14.56 on Monday. The stock has a market capitalization of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. 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 firm has a 50-day moving average price of $14.58 and a 200-day moving average price of $14.74. EnLink Midstream, LLC has a 12 month low of $11.83 and a 12 month high of $16.40.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of EnLink Midstream in a research note on Friday. They set a “hold” rating on the stock. Eleven investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Company 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.