B. Riley Wealth Advisors Inc. Reduces Position in EnLink Midstream, LLC (NYSE:ENLC)

B. Riley Wealth Advisors Inc. trimmed its position in EnLink Midstream, LLC (NYSE:ENLC) by 12.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 61,423 shares of the pipeline company’s stock after selling 8,370 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in EnLink Midstream were worth $747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ENLC. Headlands Technologies LLC acquired a new position in EnLink Midstream in the 4th quarter valued at about $27,000. JNBA Financial Advisors acquired a new position in EnLink Midstream in the 4th quarter valued at about $30,000. Sunbelt Securities Inc. lifted its holdings in shares of EnLink Midstream by 232.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after acquiring an additional 3,837 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of EnLink Midstream by 198.8% in the 4th quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock worth $72,000 after acquiring an additional 3,965 shares during the last quarter. Finally, Strategic Blueprint LLC acquired a new position in shares of EnLink Midstream in the 4th quarter worth approximately $126,000. 45.87% of the stock is currently owned by institutional investors and hedge funds.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $13.16 on Friday. The firm has a market cap of $5.94 billion, a PE ratio of 37.59 and a beta of 2.36. EnLink Midstream, LLC has a 52-week low of $9.52 and a 52-week high of $14.18. 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 company’s 50 day moving average is $13.23 and its two-hundred day moving average is $12.79.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. The company had revenue of $1.65 billion for 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%. On average, research analysts expect that EnLink Midstream, LLC will post 0.62 EPS for the current fiscal year.

EnLink Midstream Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th were issued a dividend of $0.132 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a yield of 4.01%. EnLink Midstream’s dividend payout ratio (DPR) is presently 151.43%.

Analyst Ratings Changes

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

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.