Pinnacle Holdings Lowers stake in EnLink Midstream Partners LP (ENLK)

EnLink Midstream Partners LP (ENLK) : Pinnacle Holdings reduced its stake in EnLink Midstream Partners LP by 0.86% during the most recent quarter end. The investment management company now holds a total of 224,586 shares of EnLink Midstream Partners LP which is valued at $3,894,321 after selling 1,950 shares in EnLink Midstream Partners LP , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.EnLink Midstream Partners LP makes up approximately 1.93% of Pinnacle Holdings’s portfolio.

Other Hedge Funds, Including , Edge Asset Management Inc reduced its stake in ENLK by selling 32,773 shares or 1.46% in the most recent quarter. The Hedge Fund company now holds 2,215,271 shares of ENLK which is valued at $38,412,799. EnLink Midstream Partners LP makes up approx 0.33% of Edge Asset Management Inc’s portfolio.Stephens Inc Ar boosted its stake in ENLK in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 11,904 shares of EnLink Midstream Partners LP which is valued at $204,987. EnLink Midstream Partners LP makes up approx 0.01% of Stephens Inc Ar’s portfolio. Agf Investments added ENLK to its portfolio by purchasing 677 company shares during the most recent quarter which is valued at $11,732. Solaris Asset Management added ENLK to its portfolio by purchasing 6,075 company shares during the most recent quarter which is valued at $106,070. EnLink Midstream Partners LP makes up approx 0.08% of Solaris Asset Management’s portfolio.

EnLink Midstream Partners LP opened for trading at $17.49 and hit $17.76 on the upside on Wednesday, eventually ending the session at $17.72, with a gain of 1.37% or 0.24 points. The heightened volatility saw the trading volume jump to 5,68,409 shares. Company has a market cap of $5,961 M.

On the company’s financial health, EnLink Midstream Partners LP reported $-1.74 EPS for the quarter, missing the analyst consensus estimate by $ -1.82 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.08. The company had revenue of $889.70 million for the quarter, compared to analysts expectations of $1059.09 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on EnLink Midstream Partners LP. EnLink Midstream Partners LP was Upgraded by Morgan Stanley to ” Overweight” on Jun 22, 2016. EnLink Midstream Partners LP was Downgraded by Jefferies to ” Hold” on Jun 8, 2016.

EnLink Midstream Partners LP formerly Crosstex Energy L.P. focuses on providing midstream energy services including gathering transmission processing fractionation and marketing to producers of natural gas natural gas liquids (NGL) crude oil and condensate. The Company also provides crude oil condensate and brine disposal services to producers. The Company owns and operates around 360 miles of gas gathering pipelines approximately 300 Million Cubic Feet per Day (MMcf/d) of processing capacity as well as crude trucking and logistics services extending through seven counties in the core of the Midland Basin. EnLink Midstream operates approximately 9100 miles of gathering and transportation pipelines 16 processing plants seven fractionators as well as barge and rail terminals product storage facilities brine disposal wells truck terminals and a fleet of approximately 100 trucks.

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