Engineers Gate Manager LP bought a new stake in shares of EnLink Midstream LLC (NYSE:ENLC) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 33,569 shares of the pipeline company’s stock, valued at approximately $552,000.
A number of other large investors also recently made changes to their positions in ENLC. Gator Capital Management LLC purchased a new stake in shares of EnLink Midstream during the second quarter worth about $271,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of EnLink Midstream by 25.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 60,000 shares of the pipeline company’s stock worth $987,000 after acquiring an additional 12,000 shares during the last quarter. First Dallas Securities Inc. increased its position in shares of EnLink Midstream by 8.1% during the second quarter. First Dallas Securities Inc. now owns 136,032 shares of the pipeline company’s stock worth $2,238,000 after acquiring an additional 10,240 shares during the last quarter. Alps Advisors Inc. increased its position in shares of EnLink Midstream by 15.4% during the second quarter. Alps Advisors Inc. now owns 64,560 shares of the pipeline company’s stock worth $1,136,000 after acquiring an additional 8,614 shares during the last quarter. Finally, Abacus Planning Group Inc. purchased a new stake in shares of EnLink Midstream during the second quarter worth about $1,407,000. Hedge funds and other institutional investors own 33.58% of the company’s stock.
Shares of EnLink Midstream stock opened at $17.35 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $3.14 billion, a P/E ratio of 72.29 and a beta of 2.59. EnLink Midstream LLC has a fifty-two week low of $13.80 and a fifty-two week high of $20.00.
EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.05). The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.61 billion. EnLink Midstream had a net margin of 3.73% and a return on equity of 0.86%. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. equities research analysts anticipate that EnLink Midstream LLC will post 0.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Monday, July 30th were issued a $0.267 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.26. This represents a $1.07 annualized dividend and a yield of 6.16%. The ex-dividend date was Friday, July 27th. EnLink Midstream’s payout ratio is currently -2,140.00%.
ENLC has been the topic of a number of analyst reports. ValuEngine raised EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Royal Bank of Canada raised EnLink Midstream from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from $22.00 to $20.00 in a research report on Thursday, May 3rd. Barclays set a $15.00 target price on EnLink Midstream and gave the stock a “hold” rating in a research report on Tuesday, June 12th. B. Riley set a $18.00 target price on EnLink Midstream and gave the stock a “hold” rating in a research report on Monday, June 4th. Finally, Raymond James reaffirmed a “buy” rating and set a $19.00 target price on shares of EnLink Midstream in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.64.
In related news, EVP Alaina K. Brooks sold 48,442 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $17.36, for a total value of $840,953.12. Following the completion of the sale, the executive vice president now directly owns 78,190 shares of the company’s stock, valued at $1,357,378.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.24% of the stock is owned by insiders.
About EnLink Midstream
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.
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