Wells Fargo & Company MN Has $12.58 Million Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

Wells Fargo & Company MN boosted its holdings in shares of EnLink Midstream, LLC (NYSE:ENLCFree Report) by 56.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,034,809 shares of the pipeline company’s stock after acquiring an additional 373,969 shares during the quarter. Wells Fargo & Company MN owned 0.23% of EnLink Midstream worth $12,583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jump Financial LLC acquired a new stake in shares of EnLink Midstream during the third quarter worth approximately $369,000. Pathstone Family Office LLC grew its holdings in shares of EnLink Midstream by 103.4% during the 3rd quarter. Pathstone Family Office LLC now owns 31,080 shares of the pipeline company’s stock valued at $380,000 after acquiring an additional 15,800 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of EnLink Midstream by 79.1% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,749,100 shares of the pipeline company’s stock valued at $21,374,000 after acquiring an additional 772,700 shares in the last quarter. UBS Group AG increased its stake in shares of EnLink Midstream by 22.9% in the third quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock worth $18,848,000 after acquiring an additional 287,400 shares during the last quarter. Finally, Lee Financial Co raised its holdings in shares of EnLink Midstream by 2.2% during the third quarter. Lee Financial Co now owns 80,655 shares of the pipeline company’s stock worth $986,000 after acquiring an additional 1,737 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

EnLink Midstream Trading Up 2.6 %

Shares of NYSE:ENLC opened at $12.69 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day moving average is $13.41 and its 200-day moving average is $12.80. The company has a market cap of $5.73 billion, a P/E ratio of 36.26 and a beta of 2.36. EnLink Midstream, LLC has a 52-week low of $9.52 and a 52-week high of $14.18.

EnLink Midstream (NYSE:ENLCGet Free Report) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. Equities research analysts predict that EnLink Midstream, LLC will post 0.52 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th were paid a $0.132 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $0.53 annualized dividend and a dividend yield of 4.16%. EnLink Midstream’s payout ratio is 151.43%.

Analyst Upgrades and Downgrades

ENLC has been the topic of several research reports. Citigroup upped their target price on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Capital One Financial assumed coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective on the stock. StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. cut their target price on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, EnLink Midstream has an average rating of “Moderate Buy” and a consensus price target of $14.33.

View Our Latest Research Report on ENLC

EnLink Midstream Profile

(Free Report)

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.

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Institutional Ownership by Quarter for EnLink Midstream (NYSE:ENLC)

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