EnLink Midstream, LLC (NYSE:ENLC) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. raised its position in EnLink Midstream, LLC (NYSE:ENLC) by 21.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,396 shares of the pipeline company’s stock after buying an additional 1,511 shares during the period. Sunbelt Securities Inc.’s holdings in EnLink Midstream were worth $116,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in shares of EnLink Midstream during the second quarter worth $28,000. SG Americas Securities LLC acquired a new position in EnLink Midstream during the first quarter worth about $105,000. First Horizon Advisors Inc. boosted its position in EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 853 shares during the last quarter. Callahan Advisors LLC grew its stake in EnLink Midstream by 8.7% during the 2nd quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after acquiring an additional 1,000 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in EnLink Midstream in the 2nd quarter valued at about $183,000. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Stock Up 0.4 %

Shares of NYSE:ENLC opened at $14.71 on Friday. The firm has a market capitalization of $6.64 billion, a PE ratio of 42.03 and a beta of 2.40. EnLink Midstream, LLC has a 1 year low of $11.44 and a 1 year high of $14.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The firm’s 50-day moving average is $13.77 and its two-hundred day moving average is $13.56.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the company earned $0.12 earnings per share. EnLink Midstream’s quarterly revenue was up 1.4% compared to the same quarter last year. Analysts predict that EnLink Midstream, LLC will post 0.59 EPS for the current year.

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were paid a $0.1325 dividend. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Friday, August 2nd. EnLink Midstream’s dividend payout ratio (DPR) is presently 151.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Friday, August 30th. Morgan Stanley lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $16.00 to $15.00 in a report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.44.

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.