EnLink Midstream, LLC (NYSE:ENLC) Position Cut by NBW Capital LLC

NBW Capital LLC reduced its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,039,282 shares of the pipeline company’s stock after selling 28,506 shares during the period. EnLink Midstream comprises about 2.8% of NBW Capital LLC’s holdings, making the stock its 6th largest holding. NBW Capital LLC owned about 0.23% of EnLink Midstream worth $12,638,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in EnLink Midstream by 70.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock worth $152,247,000 after buying an additional 5,152,252 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of EnLink Midstream by 11.0% in the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after acquiring an additional 4,200,733 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in EnLink Midstream by 147.3% in the first quarter. JPMorgan Chase & Co. now owns 6,317,977 shares of the pipeline company’s stock valued at $68,487,000 after purchasing an additional 3,763,192 shares during the period. Goldman Sachs Group Inc. grew its stake in EnLink Midstream by 63.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 6,928,608 shares of the pipeline company’s stock worth $58,893,000 after purchasing an additional 2,697,480 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in EnLink Midstream by 1,614.2% during the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock worth $22,721,000 after purchasing an additional 1,759,500 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EnLink Midstream

In other news, CAO Jan Philipp Rossbach sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at $719,611.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was 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 in the company, valued at approximately $6,450,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value of $616,000.00. Following the sale, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at $719,611.20. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

EnLink Midstream Stock Up 0.1 %

Shares of NYSE ENLC traded up $0.01 during mid-day trading on Thursday, reaching $13.44. The company had a trading volume of 389,267 shares, compared to its average volume of 1,937,897. The firm has a 50 day simple moving average of $12.91 and a two-hundred day simple moving average of $12.59. EnLink Midstream, LLC has a 52-week low of $8.45 and a 52-week high of $14.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. The stock has a market cap of $6.09 billion, a P/E ratio of 30.52 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Sell-side analysts predict that EnLink Midstream, LLC will post 0.6 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be given a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is 120.46%.

Analyst Ratings Changes

ENLC has been the subject of several recent research reports. Citigroup lifted their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday. Capital One Financial started coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. UBS Group lifted their price objective 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. Finally, StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, EnLink Midstream presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.63.

EnLink Midstream Company 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.