SL Advisors LLC Trims Position in EnLink Midstream, LLC (NYSE:ENLC)

SL Advisors LLC cut its position in EnLink Midstream, LLC (NYSE:ENLCFree Report) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,324 shares of the pipeline company’s stock after selling 4,488 shares during the period. EnLink Midstream comprises 1.7% of SL Advisors LLC’s portfolio, making the stock its 17th largest holding. SL Advisors LLC’s holdings in EnLink Midstream were worth $806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its stake in shares of EnLink Midstream by 3.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 467,592 shares of the pipeline company’s stock worth $5,686,000 after purchasing an additional 16,909 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of EnLink Midstream by 232.4% in the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 3,837 shares in the last quarter. Comerica Bank boosted its position in shares of EnLink Midstream by 878.5% during the third quarter. Comerica Bank now owns 23,475 shares of the pipeline company’s stock worth $287,000 after acquiring an additional 21,076 shares during the last quarter. Morgan Stanley boosted its position in shares of EnLink Midstream by 27.7% during the third quarter. Morgan Stanley now owns 6,731,813 shares of the pipeline company’s stock worth $82,263,000 after acquiring an additional 1,458,984 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of EnLink Midstream by 4.5% during the third quarter. Royal Bank of Canada now owns 252,849 shares of the pipeline company’s stock worth $3,090,000 after acquiring an additional 10,785 shares during the last quarter. 44.80% of the stock is owned by hedge funds and other institutional investors.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $12.95 on Friday. The firm has a 50-day moving average price of $12.25 and a 200-day moving average price of $12.43. The firm has a market capitalization of $5.87 billion, a PE ratio of 29.43 and a beta of 2.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. EnLink Midstream, LLC has a 12-month low of $8.45 and a 12-month high of $13.98.

EnLink Midstream (NYSE:ENLCGet Free Report) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. As a group, equities research analysts forecast that EnLink Midstream, LLC will post 0.63 EPS for the current year.

EnLink Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Monday, January 29th were paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a yield of 4.09%. The ex-dividend date was Friday, January 26th. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio (DPR) is currently 120.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ENLC shares. UBS Group upped their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. dropped their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Finally, StockNews.com lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.33.

View Our Latest Stock Report on ENLC

Insider Buying and Selling

In related news, CFO Benjamin D. Lamb sold 250,552 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the transaction, the chief financial officer now owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Benjamin D. Lamb sold 250,552 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the transaction, the chief financial officer now owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of 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. 0.84% of the stock is currently owned by insiders.

About EnLink Midstream

(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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