EnLink Midstream (NYSE:ENLC) Shares Up 6.6% Following Insider Buying Activity

EnLink Midstream LLC (NYSE:ENLC) shot up 6.6% on Thursday after an insider bought additional shares in the company. The company traded as high as $5.24 and last traded at $5.18, 4,241,196 shares changed hands during trading. An increase of 44% from the average session volume of 2,953,627 shares. The stock had previously closed at $4.86.

Specifically, Director Kyle D. Vann acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the acquisition, the director now directly owns 124,907 shares in the company, valued at approximately $608,297.09. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.45% of the company’s stock.

Several brokerages have issued reports on ENLC. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $7.00 in a research note on Tuesday, October 8th. Mizuho began coverage on shares of EnLink Midstream in a research note on Thursday, July 25th. They issued a “neutral” rating and a $11.50 price target on the stock. TheStreet lowered shares of EnLink Midstream from a “c-” rating to a “d+” rating in a research note on Friday, November 15th. Robert W. Baird lowered their price target on shares of EnLink Midstream from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Finally, Mitsubishi UFJ Financial Group lowered shares of EnLink Midstream from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $10.00 in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $10.59.

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.96. The firm’s 50 day simple moving average is $6.62 and its 200-day simple moving average is $8.78. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -74.00, a price-to-earnings-growth ratio of 5.43 and a beta of 2.03.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). EnLink Midstream had a negative net margin of 3.48% and a negative return on equity of 0.09%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the business earned $0.04 EPS. The business’s revenue was down 33.4% on a year-over-year basis. As a group, equities research analysts predict that EnLink Midstream LLC will post 0.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Monday, October 28th were given a $0.283 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 21.85%. The ex-dividend date was Friday, October 25th. EnLink Midstream’s dividend payout ratio (DPR) is presently -1,614.29%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BBVA USA Bancshares Inc. bought a new position in shares of EnLink Midstream in the 3rd quarter valued at about $643,000. Tower Research Capital LLC TRC boosted its holdings in shares of EnLink Midstream by 595.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 30,796 shares of the pipeline company’s stock worth $262,000 after buying an additional 26,366 shares during the period. Arrow Investment Advisors LLC boosted its holdings in shares of EnLink Midstream by 38.2% during the 3rd quarter. Arrow Investment Advisors LLC now owns 43,896 shares of the pipeline company’s stock worth $373,000 after buying an additional 12,136 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in shares of EnLink Midstream by 20.8% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 10,052,805 shares of the pipeline company’s stock worth $85,446,000 after buying an additional 1,728,000 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in shares of EnLink Midstream by 37.7% during the 3rd quarter. Alps Advisors Inc. now owns 31,335,519 shares of the pipeline company’s stock worth $266,352,000 after buying an additional 8,578,208 shares during the period. 44.51% of the stock is owned by institutional investors.

About EnLink Midstream (NYSE:ENLC)

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. 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.

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