State Street Corp Acquires 5,573 Shares of EnLink Midstream, LLC (NYSE:ENLC)

State Street Corp boosted its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 557,629 shares of the pipeline company’s stock after acquiring an additional 5,573 shares during the quarter. State Street Corp owned 0.12% of EnLink Midstream worth $8,091,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in shares of EnLink Midstream by 100.8% in the 3rd quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after purchasing an additional 63,997 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of EnLink Midstream by 4.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock worth $32,363,000 after buying an additional 106,467 shares in the last quarter. Walleye Capital LLC lifted its position in shares of EnLink Midstream by 1,829.6% during the 3rd quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock worth $4,095,000 after buying an additional 267,619 shares during the period. Catalyst Capital Advisors LLC boosted its stake in EnLink Midstream by 120.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after buying an additional 1,141,254 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in EnLink Midstream by 468.8% in the second quarter. Mackenzie Financial Corp now owns 102,368 shares of the pipeline company’s stock valued at $1,409,000 after acquiring an additional 84,372 shares during the period. Institutional investors and hedge funds own 45.87% of the company’s stock.

EnLink Midstream Price Performance

Shares of ENLC opened at $14.23 on Friday. The stock has a market cap of $6.50 billion, a P/E ratio of 67.76 and a beta of 2.44. EnLink Midstream, LLC has a 1 year low of $11.53 and a 1 year high of $16.40. The stock’s 50-day moving average price is $15.02 and its two-hundred day moving average price is $14.24. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue was down 7.9% compared to the same quarter last year. On average, equities analysts predict that EnLink Midstream, LLC will post 0.51 earnings per share for the current year.

EnLink Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s payout ratio is presently 252.38%.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ENLC shares. Wells Fargo & Company cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $16.00 to $15.00 in a report on Friday, August 30th. Raymond James cut shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, November 21st. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Friday, August 30th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, EnLink Midstream currently has an average rating of “Hold” and an average price target of $15.40.

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.