SL Advisors LLC Grows Position in EnLink Midstream, LLC (NYSE:ENLC)

SL Advisors LLC boosted its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,260 shares of the pipeline company’s stock after buying an additional 1,985 shares during the period. EnLink Midstream accounts for approximately 1.8% of SL Advisors LLC’s portfolio, making the stock its 16th biggest holding. SL Advisors LLC’s holdings in EnLink Midstream were worth $976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 853 shares during the period. First Dallas Securities Inc. increased its holdings in shares of EnLink Midstream by 0.6% in the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock valued at $2,182,000 after purchasing an additional 960 shares during the period. Callahan Advisors LLC raised its stake in shares of EnLink Midstream by 8.7% during the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock worth $172,000 after purchasing an additional 1,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of EnLink Midstream by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after purchasing an additional 1,151 shares during the period. Finally, Sunbelt Securities Inc. grew its position in EnLink Midstream by 24.2% in the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after buying an additional 1,343 shares during the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Down 1.1 %

EnLink Midstream stock opened at $14.60 on Wednesday. EnLink Midstream, LLC has a fifty-two week low of $11.53 and a fifty-two week high of $14.80. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 41.70 and a beta of 2.40. The stock’s fifty day moving average is $13.81 and its two-hundred day moving average is $13.59. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65.

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

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were given a dividend of $0.1325 per share. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, August 2nd. EnLink Midstream’s payout ratio is currently 151.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Morgan Stanley cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a report on Monday, September 16th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Monday, September 30th. Finally, Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, EnLink Midstream presently has an average rating of “Hold” and an average 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.