Swiss National Bank Reduces Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Swiss National Bank decreased its holdings in shares of EnLink Midstream, LLC (NYSE:ENLCGet Rating) by 1.2% during the second quarter, Holdings Channel.com reports. The fund owned 627,123 shares of the pipeline company’s stock after selling 7,400 shares during the period. Swiss National Bank’s holdings in EnLink Midstream were worth $5,331,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Lindbrook Capital LLC purchased a new stake in EnLink Midstream in the second quarter valued at approximately $30,000. First Horizon Advisors Inc. boosted its position in EnLink Midstream by 85.7% in the first quarter. First Horizon Advisors Inc. now owns 5,143 shares of the pipeline company’s stock valued at $50,000 after buying an additional 2,374 shares during the last quarter. Rational Advisors LLC boosted its position in EnLink Midstream by 47.8% in the first quarter. Rational Advisors LLC now owns 5,452 shares of the pipeline company’s stock valued at $53,000 after buying an additional 1,762 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in EnLink Midstream in the first quarter valued at approximately $102,000. Finally, NN Investment Partners Holdings N.V. purchased a new stake in EnLink Midstream in the first quarter valued at approximately $115,000. Hedge funds and other institutional investors own 42.03% of the company’s stock.

EnLink Midstream Trading Down 1.9 %

Shares of NYSE:ENLC opened at $12.59 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $5.96 billion, a PE ratio of 24.21 and a beta of 2.66. The business has a 50 day moving average of $10.79 and a two-hundred day moving average of $10.16. EnLink Midstream, LLC has a 12-month low of $5.88 and a 12-month high of $12.92.

EnLink Midstream Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, October 28th were paid a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Thursday, October 27th. EnLink Midstream’s payout ratio is 86.54%.

Analysts Set New Price Targets

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

Insider Transactions at EnLink Midstream

In other news, Director Kyle D. Vann sold 13,500 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $12.16, for a total transaction of $164,160.00. Following the completion of the transaction, the director now directly owns 171,631 shares of the company’s stock, valued at approximately $2,087,032.96. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.84% of the company’s stock.

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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