IFP Advisors Inc Sells 107,741 Shares of EnLink Midstream, LLC (NYSE:ENLC)

IFP Advisors Inc decreased its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 98.3% in the second quarter, Holdings Channel reports. The fund owned 1,904 shares of the pipeline company’s stock after selling 107,741 shares during the quarter. IFP Advisors Inc’s holdings in EnLink Midstream were worth $34,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of EnLink Midstream in the 3rd quarter valued at approximately $96,000. Ameritas Advisory Services LLC bought a new stake in EnLink Midstream in the first quarter worth $106,000. Glenmede Trust Co. NA purchased a new position in EnLink Midstream during the third quarter worth $106,000. Strategic Blueprint LLC bought a new position in EnLink Midstream during the first quarter valued at $115,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of EnLink Midstream in the first quarter valued at $133,000. Hedge funds and other institutional investors own 44.80% of the company’s stock.

EnLink Midstream Stock Down 0.1 %

Shares of NYSE:ENLC opened at $12.29 on Monday. The business’s 50 day moving average is $12.40 and its 200 day moving average is $11.31. The stock has a market cap of $5.61 billion, a P/E ratio of 19.51 and a beta of 2.47. EnLink Midstream, LLC has a 52-week low of $8.45 and a 52-week high of $13.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.70.

EnLink Midstream Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 27th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Thursday, October 26th. EnLink Midstream’s payout ratio is 79.37%.

Analyst Upgrades and Downgrades

ENLC has been the topic of several analyst reports. Pickering Energy Partners began coverage on shares of EnLink Midstream in a report on Tuesday, October 3rd. They set an “outperform” rating on the stock. Mizuho upped their target price on EnLink Midstream from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, September 12th. Wells Fargo & Company raised their price target on EnLink Midstream from $11.00 to $12.00 in a research note on Friday, August 4th. StockNews.com started coverage on EnLink Midstream in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, UBS Group increased their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

EnLink Midstream Company Profile

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through five segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.