Lazard Asset Management LLC Invests $304,000 in EnLink Midstream, LLC (NYSE:ENLC)

Lazard Asset Management LLC acquired a new position in EnLink Midstream, LLC (NYSE:ENLCGet Rating) during the second quarter, HoldingsChannel.com reports. The fund acquired 35,871 shares of the pipeline company’s stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. grew its position in shares of EnLink Midstream by 85.7% in the 1st quarter. First Horizon Advisors Inc. now owns 5,143 shares of the pipeline company’s stock worth $50,000 after buying an additional 2,374 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in EnLink Midstream during the 1st quarter worth approximately $115,000. Hodges Capital Management Inc. grew its position in EnLink Midstream by 5.4% during the 1st quarter. Hodges Capital Management Inc. now owns 517,037 shares of the pipeline company’s stock worth $4,989,000 after purchasing an additional 26,409 shares during the last quarter. First Dallas Securities Inc. grew its position in EnLink Midstream by 5.4% during the 1st quarter. First Dallas Securities Inc. now owns 330,333 shares of the pipeline company’s stock worth $3,188,000 after purchasing an additional 17,072 shares during the last quarter. Finally, Fractal Investments LLC grew its position in EnLink Midstream by 7.7% during the 2nd quarter. Fractal Investments LLC now owns 2,182,278 shares of the pipeline company’s stock worth $18,549,000 after purchasing an additional 155,924 shares during the last quarter. Hedge funds and other institutional investors own 42.03% of the company’s stock.

EnLink Midstream Stock Up 2.3 %

ENLC stock opened at $12.63 on Friday. The firm’s fifty day simple moving average is $10.60 and its 200-day simple moving average is $10.11. The company has a market capitalization of $5.98 billion, a P/E ratio of 24.29 and a beta of 2.66. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.04 and a quick ratio of 1.04. EnLink Midstream, LLC has a 12 month low of $5.88 and a 12 month high of $12.75.

EnLink Midstream Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, October 28th were paid a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Thursday, October 27th. EnLink Midstream’s dividend payout ratio is currently 86.54%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Raymond James boosted their target price on shares of EnLink Midstream from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, November 3rd. Morgan Stanley raised shares of EnLink Midstream from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $14.00 in a research report on Wednesday, October 19th. Stifel Nicolaus assumed coverage on shares of EnLink Midstream in a research report on Tuesday, September 27th. They set a “buy” rating and a $12.50 target price on the stock. StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Royal Bank of Canada upped their price objective on shares of EnLink Midstream from $12.00 to $14.00 and gave the company a “sector perform” rating in a report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.75.

About EnLink Midstream

(Get Rating)

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate 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 stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.

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

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