Raymond James Financial Services Advisors Inc. Acquires 2,217 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 15.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 16,461 shares of the pipeline company’s stock after purchasing an additional 2,217 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in EnLink Midstream were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENLC. National Bank of Canada FI bought a new position in EnLink Midstream during the third quarter worth about $28,000. Sunbelt Securities Inc. lifted its holdings in EnLink Midstream by 232.4% during the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after acquiring an additional 3,837 shares in the last quarter. Spirit of America Management Corp NY bought a new position in EnLink Midstream during the third quarter worth about $73,000. First Horizon Advisors Inc. lifted its holdings in EnLink Midstream by 14.8% during the third quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock worth $84,000 after acquiring an additional 885 shares in the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of EnLink Midstream in the third quarter valued at about $98,000. 45.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the business’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 transaction, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at $719,611.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now owns 534,000 shares of the company’s stock, valued at $6,450,720. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the business’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 value of $616,000.00. Following the transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at approximately $719,611.20. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

EnLink Midstream Price Performance

NYSE:ENLC opened at $13.78 on Thursday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s 50-day simple moving average is $13.08 and its 200 day simple moving average is $12.66. The company has a market cap of $6.24 billion, a P/E ratio of 31.32 and a beta of 2.39. EnLink Midstream, LLC has a 52-week low of $8.45 and a 52-week high of $14.18.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. As a group, sell-side analysts forecast that EnLink Midstream, LLC will post 0.6 EPS for the current fiscal year.

EnLink Midstream Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be given a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is presently 120.45%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ENLC shares. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a report on Friday, April 19th. UBS Group boosted their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Capital One Financial started coverage on EnLink Midstream in a report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price target on the stock. Citigroup boosted their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. cut their price target on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, EnLink Midstream has a consensus rating of “Moderate Buy” and a consensus target price of $14.63.

EnLink Midstream Profile

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.