Dimensional Fund Advisors LP trimmed its position in EnLink Midstream, LLC (NYSE:ENLC – Get Rating) by 14.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,548,621 shares of the pipeline company’s stock after selling 1,671,708 shares during the quarter. Dimensional Fund Advisors LP’s holdings in EnLink Midstream were worth $117,445,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fractal Investments LLC boosted its position in EnLink Midstream by 8.9% during the 4th quarter. Fractal Investments LLC now owns 2,750,217 shares of the pipeline company’s stock worth $33,828,000 after acquiring an additional 225,666 shares during the period. Castleark Management LLC acquired a new stake in shares of EnLink Midstream in the third quarter valued at $383,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of EnLink Midstream by 4.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 48,696 shares of the pipeline company’s stock valued at $433,000 after buying an additional 1,964 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of EnLink Midstream by 37.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,154 shares of the pipeline company’s stock valued at $555,000 after buying an additional 12,312 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in shares of EnLink Midstream by 248.8% in the third quarter. Engineers Gate Manager LP now owns 145,224 shares of the pipeline company’s stock valued at $1,291,000 after buying an additional 103,590 shares during the period. 44.37% of the stock is currently owned by institutional investors.
Insider Transactions at EnLink Midstream
In other news, CFO Benjamin D. Lamb sold 210,000 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $11.38, for a total transaction of $2,389,800.00. Following the completion of the sale, the chief financial officer now owns 497,107 shares in the company, valued at $5,657,077.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.84% of the stock is currently owned by corporate insiders.
EnLink Midstream Price Performance
EnLink Midstream (NYSE:ENLC – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. EnLink Midstream had a return on equity of 13.48% and a net margin of 4.23%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $2.17 billion. On average, analysts expect that EnLink Midstream, LLC will post 0.53 earnings per share for the current fiscal year.
EnLink Midstream Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Friday, April 28th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, April 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.06%. EnLink Midstream’s payout ratio is currently 63.29%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. StockNews.com assumed coverage on EnLink Midstream in a report on Thursday. They set a “hold” rating for the company. Citigroup raised EnLink Midstream from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a report on Thursday, March 9th. Morgan Stanley reduced their target price on EnLink Midstream from $18.00 to $17.00 in a report on Tuesday, April 25th. Raymond James reduced their target price on EnLink Midstream from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, February 16th. Finally, Stifel Nicolaus dropped their price target on EnLink Midstream from $14.50 to $14.00 in a research report on Thursday, May 4th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, EnLink Midstream has a consensus rating of “Moderate Buy” and an average target price of $14.33.
EnLink Midstream Profile
EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The Permian segment includes natural gas gathering, processing, and transmission activities and crude oil operations in the Midland and Delaware Basins in West Texas and Eastern New Mexico and crude operations in South Texas.
- Get a free copy of the StockNews.com research report on EnLink Midstream (ENLC)
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