SG Americas Securities LLC reduced its stake in EnLink Midstream, LLC (NYSE:ENLC – Get Rating) by 36.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,131 shares of the pipeline company’s stock after selling 33,064 shares during the quarter. SG Americas Securities LLC’s holdings in EnLink Midstream were worth $508,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. CWM LLC raised its holdings in EnLink Midstream by 45.2% in the 3rd quarter. CWM LLC now owns 3,291 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 1,025 shares during the period. Lindbrook Capital LLC bought a new position in EnLink Midstream in the 2nd quarter valued at about $30,000. CNB Bank bought a new position in EnLink Midstream in the 2nd quarter valued at about $43,000. Avantax Planning Partners Inc. bought a new position in EnLink Midstream in the 3rd quarter valued at about $98,000. Finally, Verition Fund Management LLC bought a new position in EnLink Midstream in the 2nd quarter valued at about $153,000. 44.37% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
ENLC has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of EnLink Midstream from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, January 9th. StockNews.com cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Thursday, December 29th. Royal Bank of Canada raised their target price on shares of EnLink Midstream from $12.00 to $14.00 and gave the stock a “sector perform” rating in a report on Thursday, November 3rd. Stifel Nicolaus initiated coverage on shares of EnLink Midstream in a report on Tuesday, September 27th. They set a “buy” rating and a $12.50 target price on the stock. Finally, Raymond James raised their target price on shares of EnLink Midstream from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.64.
EnLink Midstream Stock Performance
EnLink Midstream (NYSE:ENLC – Get Rating) last issued its earnings results on Tuesday, November 1st. The pipeline company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. EnLink Midstream had a net margin of 2.63% and a return on equity of 8.93%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.06 billion. As a group, research analysts predict that EnLink Midstream, LLC will post 0.61 EPS for the current fiscal year.
EnLink Midstream Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Shareholders of record on Monday, January 30th will be given a $0.125 dividend. The ex-dividend date is Friday, January 27th. This represents a $0.50 dividend on an annualized basis and a yield of 3.82%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.11. EnLink Midstream’s dividend payout ratio (DPR) is currently 86.54%.
Insider Buying and Selling at EnLink Midstream
In other EnLink Midstream news, Director Kyle D. Vann sold 13,500 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $12.16, for a total value of $164,160.00. Following the sale, the director now owns 171,631 shares in the company, valued at $2,087,032.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.84% of the company’s stock.
EnLink Midstream Company Profile
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.
- Get a free copy of the StockNews.com research report on EnLink Midstream (ENLC)
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