Strategic Blueprint LLC Takes Position in EnLink Midstream, LLC (NYSE:ENLC)

Strategic Blueprint LLC bought a new stake in EnLink Midstream, LLC (NYSE:ENLC) during the fourth quarter, HoldingsChannel reports. The firm bought 10,329 shares of the pipeline company’s stock, valued at approximately $126,000.

A number of other institutional investors have also modified their holdings of ENLC. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of EnLink Midstream by 70.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock valued at $152,247,000 after purchasing an additional 5,152,252 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of EnLink Midstream by 11.0% in the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after purchasing an additional 4,200,733 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of EnLink Midstream by 147.3% in the 1st quarter. JPMorgan Chase & Co. now owns 6,317,977 shares of the pipeline company’s stock valued at $68,487,000 after purchasing an additional 3,763,192 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of EnLink Midstream by 63.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 6,928,608 shares of the pipeline company’s stock valued at $58,893,000 after purchasing an additional 2,697,480 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in EnLink Midstream by 1,614.2% during the fourth quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock worth $22,721,000 after acquiring an additional 1,759,500 shares during the period. Institutional investors and hedge funds own 45.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ENLC. StockNews.com lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group increased their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Capital One Financial began coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, EnLink Midstream currently has an average rating of “Moderate Buy” and a consensus target price of $14.43.

Insider Activity

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the sale, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at $719,611.20. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

EnLink Midstream Price Performance

NYSE ENLC opened at $13.56 on Friday. EnLink Midstream, LLC has a 52 week low of $8.45 and a 52 week high of $14.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 30.82 and a beta of 2.39. The company has a 50-day moving average price of $12.81 and a two-hundred day moving average price of $12.57.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. Analysts forecast that EnLink Midstream, LLC will post 0.6 EPS for the current year.

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Monday, January 29th were issued a $0.1325 dividend. The ex-dividend date was Friday, January 26th. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.91%. EnLink Midstream’s dividend payout ratio (DPR) is 120.46%.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It 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.