Raymond James Financial Inc. Buys New Position in EnLink Midstream, LLC (NYSE:ENLC)

Raymond James Financial Inc. bought a new position in EnLink Midstream, LLC (NYSE:ENLC) during the fourth quarter, Holdings Channel.com reports. The fund bought 189,996 shares of the pipeline company’s stock, valued at approximately $2,688,000.

Several other large investors have also modified their holdings of the stock. Venturi Wealth Management LLC purchased a new stake in shares of EnLink Midstream during the fourth quarter valued at $55,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of EnLink Midstream in the third quarter worth approximately $98,000. Icon Wealth Advisors LLC acquired a new stake in shares of EnLink Midstream during the third quarter worth approximately $107,000. SG Americas Securities LLC purchased a new position in EnLink Midstream during the fourth quarter valued at approximately $114,000. Finally, EP Wealth Advisors LLC purchased a new stake in EnLink Midstream in the 3rd quarter worth approximately $174,000. 45.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

EnLink Midstream Price Performance

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

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.