Hsbc Holdings PLC Sells 13,855 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Hsbc Holdings PLC decreased its holdings in EnLink Midstream, LLC (NYSE:ENLC – Get Rating) by 20.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,859 shares of the pipeline company’s stock after selling 13,855 shares during the quarter. Hsbc Holdings PLC’s holdings in EnLink Midstream were worth $483,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its stake in EnLink Midstream by 45.2% in the 3rd quarter. CWM LLC now owns 3,291 shares of the pipeline company’s stock valued at $29,000 after buying an additional 1,025 shares in the last quarter. CNB Bank purchased a new position in shares of EnLink Midstream in the second quarter valued at about $43,000. Avantax Planning Partners Inc. purchased a new position in shares of EnLink Midstream in the third quarter valued at about $98,000. Russell Investments Group Ltd. purchased a new position in shares of EnLink Midstream during the third quarter valued at about $120,000. Finally, Verition Fund Management LLC purchased a new position in shares of EnLink Midstream during the second quarter valued at about $153,000. Institutional investors own 44.37% of the company’s stock.

Insider Activity at EnLink Midstream

In related news, CFO Benjamin D. Lamb sold 180,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $11.75, for a total value of $2,115,000.00. Following the completion of the transaction, the chief financial officer now directly owns 707,107 shares in the company, valued at approximately $8,308,507.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Benjamin D. Lamb sold 210,000 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $11.38, for a total transaction of $2,389,800.00. Following the completion of the sale, the chief financial officer now owns 497,107 shares of the company’s stock, valued at $5,657,077.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Benjamin D. Lamb sold 180,000 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $11.75, for a total transaction of $2,115,000.00. Following the sale, the chief financial officer now directly owns 707,107 shares of the company’s stock, valued at approximately $8,308,507.25. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. Citigroup initiated coverage on shares of EnLink Midstream in a research note on Thursday, December 8th. They issued a “neutral” rating and a $13.00 target price on the stock. Raymond James dropped their target price on shares of EnLink Midstream from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, February 16th. Finally, Morgan Stanley upped their target price on shares of EnLink Midstream from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, EnLink Midstream currently has a consensus rating of “Hold” and a consensus target price of $13.50.

EnLink Midstream Stock Up 0.1 %

Shares of EnLink Midstream stock opened at $11.61 on Tuesday. The firm’s 50 day moving average price is $12.37 and its 200-day moving average price is $11.49. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. EnLink Midstream, LLC has a 52-week low of $7.77 and a 52-week high of $13.58. The company has a market cap of $5.46 billion, a P/E ratio of 15.69 and a beta of 2.56.

EnLink Midstream (NYSE:ENLC – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The pipeline company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.19 by $0.14. EnLink Midstream had a net margin of 3.79% and a return on equity of 12.62%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.83 billion. On average, sell-side analysts predict that EnLink Midstream, LLC will post 0.72 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 13th. Investors of record on Monday, January 30th were paid a $0.125 dividend. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Friday, January 27th. EnLink Midstream’s payout ratio is currently 67.57%.

EnLink Midstream Company Profile

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EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, North Texas, Oklahoma, Louisiana, and Corporate. The Permian segment includes natural gas gathering, processing, and transmission activities and crude oil operations in the Midland and Delaware Basins in West Texas and Eastern New Mexico and crude operations in South Texas.