Oaktree Capital Management LP Lowers Stake in EnLink Midstream, LLC (NYSE:ENLC)

Oaktree Capital Management LP cut its stake in EnLink Midstream, LLC (NYSE:ENLC) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,499,111 shares of the pipeline company’s stock after selling 25,987 shares during the quarter. Oaktree Capital Management LP owned about 0.55% of EnLink Midstream worth $35,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. lifted its stake in shares of EnLink Midstream by 0.6% in the third quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock worth $3,885,000 after acquiring an additional 1,473 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of EnLink Midstream by 121.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,559 shares of the pipeline company’s stock valued at $6,770,000 after purchasing an additional 255,855 shares in the last quarter. Walleye Capital LLC boosted its stake in shares of EnLink Midstream by 1,829.6% during the 3rd quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock valued at $4,095,000 after buying an additional 267,619 shares during the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of EnLink Midstream during the third quarter worth approximately $107,000. Finally, Merewether Investment Management LP bought a new stake in shares of EnLink Midstream in the third quarter worth $64,477,000. 45.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of EnLink Midstream in a research report on Friday. They issued a “hold” rating for the company. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, EnLink Midstream presently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Performance

Shares of ENLC stock opened at $14.56 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The business has a 50 day moving average of $14.58 and a two-hundred day moving average of $14.74. The company has a market cap of $6.65 billion, a P/E ratio of 69.33 and a beta of 2.43. EnLink Midstream, LLC has a 52 week low of $11.83 and a 52 week high of $16.40.

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.