Here's Why Shares Of EnLink Midstream Surged On Tuesday

Shares of EnLink Midstream LLC ENLC, a limited liability company whose assets consist of equity interests in EnLink Midstream Partners and Enlink Midstream Holdings, surged on Tuesday after Chickasaw Capital Management disclosed a new 5.8 percent stake in the company. investment management firm whose portfolio managers average 20 years of MLP experience. According to a 13G filing, Chickasaw Capital Management acquired a 5.8 percent stake in EnLink Midsteam and owns more than 9.5 million shares. Shares of EnLink Midstream were trading higher by more than 8 percent at $12.83 by mid-Tuesday afternoon. However, the stock is also lower by more than 60 percent over the past year.