Commonwealth Equity Services LLC decreased its stake in shares of EnLink Midstream, LLC (NYSE:ENLC – Get Rating) by 25.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,495 shares of the pipeline company’s stock after selling 17,912 shares during the period. Commonwealth Equity Services LLC’s holdings in EnLink Midstream were worth $633,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fractal Investments LLC boosted its stake in shares of EnLink Midstream by 8.9% in the fourth quarter. Fractal Investments LLC now owns 2,750,217 shares of the pipeline company’s stock valued at $33,828,000 after purchasing an additional 225,666 shares during the period. Castleark Management LLC bought a new position in EnLink Midstream during the 3rd quarter valued at $383,000. Oppenheimer Asset Management Inc. boosted its stake in EnLink Midstream by 4.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 48,696 shares of the pipeline company’s stock valued at $433,000 after acquiring an additional 1,964 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in EnLink Midstream by 37.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,154 shares of the pipeline company’s stock valued at $555,000 after acquiring an additional 12,312 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its stake in EnLink Midstream by 248.8% during the 3rd quarter. Engineers Gate Manager LP now owns 145,224 shares of the pipeline company’s stock valued at $1,291,000 after acquiring an additional 103,590 shares during the last quarter. Institutional investors and hedge funds own 44.37% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on ENLC. Citigroup upgraded shares of EnLink Midstream from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Thursday, March 9th. Stifel Nicolaus dropped their target price on shares of EnLink Midstream from $14.50 to $14.00 in a report on Thursday, May 4th. StockNews.com began coverage on shares of EnLink Midstream in a report on Thursday, May 18th. They set a “hold” rating on the stock. Morgan Stanley dropped their target price on shares of EnLink Midstream from $18.00 to $17.00 in a report on Tuesday, April 25th. Finally, 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 report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.33.
EnLink Midstream Stock Down 0.8 %
EnLink Midstream (NYSE:ENLC – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. EnLink Midstream had a net margin of 4.23% and a return on equity of 13.48%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $2.17 billion. As a group, sell-side analysts predict that EnLink Midstream, LLC will post 0.53 EPS for the current year.
EnLink Midstream Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, April 28th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $0.50 annualized dividend and a yield of 5.11%. EnLink Midstream’s payout ratio is 63.29%.
EnLink Midstream Profile
EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, Louisiana, Oklahoma, North Texas, 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.
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