Raymond James & Associates Acquires 18,805 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Raymond James & Associates lifted its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 12.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 176,044 shares of the pipeline company’s stock after purchasing an additional 18,805 shares during the period. Raymond James & Associates’ holdings in EnLink Midstream were worth $2,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENLC. HITE Hedge Asset Management LLC raised its stake in EnLink Midstream by 2,629.4% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock worth $27,560,000 after acquiring an additional 1,929,551 shares during the period. Chickasaw Capital Management LLC raised its stake in EnLink Midstream by 5.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock worth $200,924,000 after acquiring an additional 759,994 shares during the period. Millennium Management LLC raised its stake in EnLink Midstream by 1,433.6% during the 2nd quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock worth $6,850,000 after acquiring an additional 465,383 shares during the period. Westwood Holdings Group Inc. raised its stake in EnLink Midstream by 22.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock worth $30,629,000 after acquiring an additional 416,424 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in EnLink Midstream by 64.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 969,102 shares of the pipeline company’s stock worth $13,335,000 after acquiring an additional 380,729 shares during the period. Institutional investors own 45.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ENLC. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Mizuho reiterated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research report on Monday, September 30th. Capital One Financial reiterated an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Finally, Morgan Stanley cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Up 2.5 %

Shares of ENLC opened at $15.32 on Wednesday. The firm has a market capitalization of $7.07 billion, a P/E ratio of 51.05 and a beta of 2.41. EnLink Midstream, LLC has a 12-month low of $11.53 and a 12-month high of $15.32. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm has a fifty day moving average price of $14.58 and a 200-day moving average price of $13.76.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Equities research analysts expect that EnLink Midstream, LLC will post 0.58 earnings per share for the current year.

EnLink Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.1325 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.46%. EnLink Midstream’s payout ratio is currently 176.67%.

Insider Activity at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

EnLink Midstream Company 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.