Larson Financial Group LLC Acquires New Shares in EnLink Midstream, LLC (NYSE:ENLC)

Larson Financial Group LLC bought a new position in shares of EnLink Midstream, LLC (NYSE:ENLCFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,052 shares of the pipeline company’s stock, valued at approximately $98,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in EnLink Midstream by 1.9% in the third quarter. Jennison Associates LLC now owns 2,742,677 shares of the pipeline company’s stock valued at $33,516,000 after acquiring an additional 51,447 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new position in EnLink Midstream in the third quarter valued at about $884,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in EnLink Midstream by 14.0% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,401,911 shares of the pipeline company’s stock valued at $36,060,000 after buying an additional 416,732 shares in the last quarter. BROOKFIELD Corp ON boosted its position in EnLink Midstream by 126.0% in the second quarter. BROOKFIELD Corp ON now owns 2,201,090 shares of the pipeline company’s stock valued at $23,332,000 after buying an additional 1,227,110 shares in the last quarter. Finally, Segment Wealth Management LLC boosted its position in EnLink Midstream by 14.0% in the second quarter. Segment Wealth Management LLC now owns 122,433 shares of the pipeline company’s stock valued at $1,298,000 after buying an additional 15,070 shares in the last quarter. Institutional investors and hedge funds own 44.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Pickering Energy Partners assumed coverage on shares of EnLink Midstream in a research report on Tuesday, October 3rd. They set an “outperform” rating for the company. StockNews.com initiated coverage on shares of EnLink Midstream in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, UBS Group lifted their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Get Our Latest Report on EnLink Midstream

EnLink Midstream Stock Up 1.6 %

NYSE ENLC traded up $0.19 on Friday, hitting $12.23. 489,687 shares of the company were exchanged, compared to its average volume of 1,944,858. The company has a market cap of $5.59 billion, a PE ratio of 19.33 and a beta of 2.41. EnLink Midstream, LLC has a 12 month low of $8.45 and a 12 month high of $13.98. The stock has a fifty day moving average of $12.53 and a 200-day moving average of $12.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.70.

EnLink Midstream (NYSE:ENLCGet Free Report) last released its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). EnLink Midstream had a return on equity of 11.32% and a net margin of 4.26%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.65 billion. As a group, analysts forecast that EnLink Midstream, LLC will post 0.46 earnings per share for the current year.

EnLink Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Monday, January 29th will be given a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Friday, January 26th. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio (DPR) is currently 79.37%.

About EnLink Midstream

(Free Report)

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

See Also

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

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