Raymond James & Associates Purchases 18,805 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Raymond James & Associates boosted its position in EnLink Midstream, LLC (NYSE:ENLC) by 12.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 176,044 shares of the pipeline company’s stock after purchasing an additional 18,805 shares during the quarter. Raymond James & Associates’ holdings in EnLink Midstream were worth $2,554,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in EnLink Midstream by 21.7% in the third quarter. Exchange Traded Concepts LLC now owns 529,060 shares of the pipeline company’s stock worth $7,677,000 after purchasing an additional 94,311 shares in the last quarter. SL Advisors LLC grew its stake in shares of EnLink Midstream by 3.0% during the third quarter. SL Advisors LLC now owns 67,260 shares of the pipeline company’s stock worth $976,000 after acquiring an additional 1,985 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of EnLink Midstream by 1.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 371,300 shares of the pipeline company’s stock worth $5,109,000 after acquiring an additional 3,800 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of EnLink Midstream during the second quarter worth about $56,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of EnLink Midstream during the second quarter worth about $384,000. 45.87% of the stock is currently owned by institutional investors.

EnLink Midstream Trading Up 2.5 %

EnLink Midstream stock opened at $15.32 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. EnLink Midstream, LLC has a 12 month low of $11.53 and a 12 month high of $15.32. The stock’s 50 day simple moving average is $14.58 and its two-hundred day simple moving average is $13.76. The firm has a market cap of $7.07 billion, a PE ratio of 51.05 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the company posted $0.12 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts anticipate that EnLink Midstream, LLC will post 0.58 earnings per share for the current year.

EnLink Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.1325 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.46%. EnLink Midstream’s dividend payout ratio is presently 176.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Capital One Financial restated an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research note on Friday, August 30th. Morgan Stanley lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research report on Monday, September 16th. Finally, StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.40.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.84% of the company’s stock.

EnLink Midstream Company Profile

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.