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EnLink Midstream Partners Could Gain Upward Momentum

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Part 9
EnLink Midstream Partners Could Gain Upward Momentum PART 9 OF 10

EnLink Midstream Partners: Recent Institutional Activity

Recent institution activity

EnLink Midstream Partners (ENLK) saw a total addition of 5.4 million positions during the recent quarter, while 6.3 million positions were sold. Among the top institutional holders in EnLink Midstream Partners, 0.1 million positions were sold. It might indicate bearish sentiment in the stock. Nuveen Asset Management and Infrastructure Capital Advisors were the biggest sellers with 3.42 million and 0.96 million shares sold. Principal Global Investors and Alps Advisors were the biggest buyers in EnLink Midstream Partners with 3.35 million and 0.66 million shares bought.

EnLink Midstream Partners: Recent Institutional Activity

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Why are institutional investors bearish?

Institutional investors’ bearishness towards EnLink Midstream Partners could be attributed to the following factors:

  • general selling in the midstream sector, particularly natural gas processing MLPs, during the recent quarter
  • rise in leverage amid the challenging energy price environment
  • lower distribution coverage despite flat distributions
  • lower throughput volumes in some regions

Top five holders

Center Coast Capital Advisors, OFI SteelPath, Alps Advisors, ClearBridge Investments, and Advisory Research are among the top five institutional holders in EnLink Midstream Partners. Center Coast Capital Advisors continues to be the top institutional holder in the partnership despite it unloading 0.24 million positions in the recent quarter. Currently, it holds 3.90% in the partnership.

In the next part, we’ll discuss analysts’ recommendations for EnLink Midstream Partners.

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