Tortoise Capital Announces Removal of EnLink Midstream from Index

Overland Park, KS / ACCESS Newswire / January 30, 2025

Tortoise Capital today announced that EnLink Midstream, LLC (NYSE:ENLC) will be removed from the Tortoise MLP Index ® (TMLP), the Tortoise North American Pipeline IndexSM (TNAP), and the Tortoise Decarbonization Infrastructure IndexSM (DCRBN) as a result of its announced acquisition by ONEOK Inc. As a result, ENLC will be removed from the indices at market open on Jan. 31, 2025. ENLC will be removed from the Tortoise MLP Index ® (TMLP) with a special rebalance.

EnLink Midstream’s removal from the Tortoise indices comes as a result of its recent acquisition by ONEOK Inc. This move will have a significant impact on the indices and the companies involved. EnLink Midstream was a key player in the energy sector, and its acquisition will reshape the landscape of the industry.

As a result of the acquisition, EnLink Midstream will no longer be included in the Tortoise MLP Index, the Tortoise North American Pipeline Index, and the Tortoise Decarbonization Infrastructure Index. This will lead to a special rebalance of the indices to reflect the changes in the market.

Investors following the Tortoise indices will need to adjust their portfolios accordingly to account for the removal of EnLink Midstream. This change will have implications for the performance of the indices and the companies included in them.

How Will This Affect Me?

As an investor tracking the Tortoise indices, the removal of EnLink Midstream will impact the performance of your portfolio. You will need to review your investments in the indices and make adjustments to account for the changes resulting from the acquisition.

How Will This Affect the World?

The acquisition of EnLink Midstream by ONEOK Inc. and its subsequent removal from the Tortoise indices will have broader implications for the energy industry. It signals a shift in the market dynamics and could lead to further consolidation within the sector. This move may also influence the direction of investment in decarbonization infrastructure as companies reposition themselves in response to the changing landscape.

Conclusion

The removal of EnLink Midstream from the Tortoise indices marks a significant development in the energy sector. This acquisition and subsequent rebalance of the indices will have ripple effects across the industry, impacting investors and companies alike. It will be important to monitor the ongoing changes in the market and adjust investment strategies accordingly to navigate the evolving landscape.