Enlink Midstream LLC (ENLC) Holder Paloma Partners Management Company Lowered Holding by $4.97 Million

EnLink Midstream, LLC (NYSE:ENLC) Logo

Paloma Partners Management Company decreased its stake in Enlink Midstream Llc (ENLC) by 57.73% based on its latest 2019Q2 regulatory filing with the SEC. Paloma Partners Management Company sold 497,409 shares as the company’s stock declined 13.36% . The institutional investor held 364,139 shares of the public utilities company at the end of 2019Q2, valued at $3.67 million, down from 861,548 at the end of the previous reported quarter. Paloma Partners Management Company who had been investing in Enlink Midstream Llc for a number of months, seems to be less bullish one the $4.11B market cap company. The stock increased 3.24% or $0.27 during the last trading session, reaching $8.44. About 3.34M shares traded or 14.11% up from the average. EnLink Midstream, LLC (NYSE:ENLC) has declined 40.19% since September 13, 2018 and is downtrending. It has underperformed by 40.19% the S&P500.

Paloma Partners Management Company, which manages about $5.90B US Long portfolio, upped its stake in National Fuel Gas Co (NYSE:NFG) by 75,218 shares to 80,592 shares, valued at $4.25 million in 2019Q2, according to the filing. It also increased its holding in Cisco Systems Inc (NASDAQ:CSCO) by 1.51 million shares in the quarter, for a total of 1.59M shares, and has risen its stake in Mgic Investment Corp (NYSE:MTG).

Analysts await EnLink Midstream, LLC (NYSE:ENLC) to report earnings on November, 5. They expect $0.08 EPS, up 100.00 % or $0.04 from last year’s $0.04 per share. ENLC’s profit will be $38.96M for 26.38 P/E if the $0.08 EPS becomes a reality. After $0.05 actual EPS reported by EnLink Midstream, LLC for the previous quarter, Wall Street now forecasts 60.00 % EPS growth.

More notable recent EnLink Midstream, LLC (NYSE:ENLC) news were published by: Finance.Yahoo.com which released: “Hedge Funds Have Never Been This Bullish On EnLink Midstream LLC (ENLC) – Yahoo Finance” on May 02, 2019, also Prnewswire.com with their article: “EnLink Midstream Names New Business and Corporate Development Leader – PRNewswire” published on May 22, 2019, Seekingalpha.com published: “Q2 2019 MLP Distribution Recap: Trending In The Right Direction – Seeking Alpha” on August 21, 2019. More interesting news about EnLink Midstream, LLC (NYSE:ENLC) were released by: Seekingalpha.com and their article: “EnLink Midstream down on Q2 earnings miss and 2019 guidance cut – Seeking Alpha” published on August 07, 2019 as well as Finance.Yahoo.com‘s news article titled: “Is EnLink Midstream LLC (ENLC) A Good Stock To Buy? – Yahoo Finance” with publication date: June 28, 2019.

EnLink Midstream, LLC (NYSE:ENLC) Ratings Coverage

Among 4 analysts covering EnLink Midstream (NYSE:ENLC), 1 have Buy rating, 0 Sell and 3 Hold. Therefore 25% are positive. EnLink Midstream has $14 highest and $1000 lowest target. $12.20’s average target is 44.55% above currents $8.44 stock price. EnLink Midstream had 10 analyst reports since March 22, 2019 according to SRatingsIntel. The company was downgraded on Thursday, August 8 by Mitsubishi UFJ. The stock has “Equal-Weight” rating by Barclays Capital on Friday, March 22. The stock has “Hold” rating by Jefferies on Monday, April 15. The rating was maintained by UBS on Monday, September 9 with “Buy”.

EnLink Midstream, LLC (NYSE:ENLC) Ratings Chart

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