Alps Advisors Inc. decreased its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 75.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,616 shares of the pipeline company’s stock after selling 170,048 shares during the period. Alps Advisors Inc.’s holdings in EnLink Midstream were worth $977,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ENLC. Principal Financial Group Inc. grew its position in shares of EnLink Midstream by 3.8% in the third quarter. Principal Financial Group Inc. now owns 2,182,575 shares of the pipeline company’s stock valued at $37,650,000 after purchasing an additional 80,717 shares during the period. Keybank National Association OH grew its position in shares of EnLink Midstream by 72.0% in the third quarter. Keybank National Association OH now owns 45,470 shares of the pipeline company’s stock valued at $784,000 after purchasing an additional 19,030 shares during the period. Linscomb & Williams Inc. purchased a new stake in shares of EnLink Midstream in the third quarter valued at $150,000. Nationwide Fund Advisors grew its position in shares of EnLink Midstream by 397.6% in the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock valued at $207,000 after purchasing an additional 9,599 shares during the period. Finally, WFG Advisors LP grew its position in shares of EnLink Midstream by 11.5% in the second quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock valued at $162,000 after purchasing an additional 950 shares during the period. 34.46% of the stock is owned by institutional investors.
Shares of EnLink Midstream, LLC (NYSE ENLC) opened at $15.40 on Tuesday. EnLink Midstream, LLC has a 1 year low of $15.10 and a 1 year high of $20.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $2,889.42, a PE ratio of 533.33 and a beta of 2.59.
EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.11). The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. EnLink Midstream’s revenue was up 26.6% compared to the same quarter last year. equities research analysts forecast that EnLink Midstream, LLC will post 0.3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Wednesday, November 1st will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend is Tuesday, October 31st. EnLink Midstream’s dividend payout ratio is presently 3,401.13%.
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A number of equities research analysts have recently commented on ENLC shares. ValuEngine downgraded EnLink Midstream from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $21.00 price objective on shares of EnLink Midstream in a research report on Thursday, September 21st. BidaskClub raised EnLink Midstream from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Barclays PLC reaffirmed a “hold” rating and issued a $19.00 price objective on shares of EnLink Midstream in a research report on Friday, July 21st. Finally, UBS AG raised EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.83.
About EnLink Midstream
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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