Dimensional Fund Advisors LP Boosts Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

Dimensional Fund Advisors LP boosted its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,736,175 shares of the pipeline company’s stock after buying an additional 342,204 shares during the period. Dimensional Fund Advisors LP owned approximately 1.47% of EnLink Midstream worth $81,911,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ENLC. Glenmede Trust Co. NA raised its position in shares of EnLink Midstream by 2.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock worth $795,000 after purchasing an additional 1,494 shares during the last quarter. Lee Financial Co raised its holdings in EnLink Midstream by 2.2% in the third quarter. Lee Financial Co now owns 80,655 shares of the pipeline company’s stock worth $986,000 after buying an additional 1,737 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of EnLink Midstream in the fourth quarter worth approximately $27,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of EnLink Midstream by 15.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,461 shares of the pipeline company’s stock valued at $200,000 after buying an additional 2,217 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of EnLink Midstream by 1.4% during the fourth quarter. Raymond James & Associates now owns 161,320 shares of the pipeline company’s stock valued at $1,962,000 after acquiring an additional 2,240 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Capital One Financial initiated coverage on EnLink Midstream in a research note on Friday, March 22nd. They set an “overweight” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Citigroup raised their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.33.

EnLink Midstream Trading Down 2.6 %

EnLink Midstream stock opened at $12.86 on Friday. EnLink Midstream, LLC has a 52-week low of $9.52 and a 52-week high of $14.18. The company has a market cap of $5.80 billion, a P/E ratio of 36.74 and a beta of 2.39. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. The business has a 50-day simple moving average of $13.45 and a two-hundred day simple moving average of $12.79.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. Analysts predict that EnLink Midstream, LLC will post 0.55 EPS for the current year.

EnLink Midstream Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th were given a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Thursday, April 25th. EnLink Midstream’s payout ratio is 151.43%.

Insider Transactions at EnLink Midstream

In related news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the completion of the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.84% of the company’s stock.

About EnLink Midstream

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.