Hodges Capital Management Inc. Sells 78,400 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Hodges Capital Management Inc. trimmed its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 30.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 182,586 shares of the pipeline company’s stock after selling 78,400 shares during the quarter. Hodges Capital Management Inc.’s holdings in EnLink Midstream were worth $2,490,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Alps Advisors Inc. increased its position in EnLink Midstream by 11.0% during the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after acquiring an additional 4,200,733 shares during the period. Goldman Sachs Group Inc. increased its holdings in EnLink Midstream by 1.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after buying an additional 186,801 shares during the period. Dimensional Fund Advisors LP increased its holdings in EnLink Midstream by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,736,175 shares of the pipeline company’s stock valued at $81,911,000 after buying an additional 342,204 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in EnLink Midstream by 13.9% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company’s stock valued at $37,618,000 after buying an additional 378,450 shares during the period. Finally, Miller Howard Investments Inc. NY increased its holdings in EnLink Midstream by 3.3% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,160,476 shares of the pipeline company’s stock valued at $29,469,000 after buying an additional 68,877 shares during the period. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Trading Up 2.9 %

ENLC opened at $13.76 on Friday. The company’s 50 day moving average is $13.24 and its 200-day moving average is $12.82. EnLink Midstream, LLC has a 1-year low of $10.27 and a 1-year high of $14.18. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. The company has a market cap of $6.21 billion, a P/E ratio of 39.32 and a beta of 2.36.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. Equities research analysts predict that EnLink Midstream, LLC will post 0.62 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Friday, April 26th were given a dividend of $0.132 per share. The ex-dividend date was Thursday, April 25th. This represents a $0.53 annualized dividend and a yield of 3.84%. EnLink Midstream’s dividend payout ratio is presently 151.43%.

Analyst Ratings Changes

Several research firms have commented on ENLC. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Monday, June 24th. Citigroup raised their target price 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, Capital One Financial assumed coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.33.

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.