Inscription Capital LLC Makes New Investment in EnLink Midstream, LLC (NYSE:ENLC)

Inscription Capital LLC acquired a new position in EnLink Midstream, LLC (NYSE:ENLC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,644 shares of the pipeline company’s stock, valued at approximately $154,000.

Other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC bought a new position in shares of EnLink Midstream during the 1st quarter valued at approximately $873,000. Janus Henderson Group PLC bought a new position in shares of EnLink Midstream during the 1st quarter valued at approximately $1,453,000. Miller Howard Investments Inc. NY grew its position in shares of EnLink Midstream by 4.3% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company’s stock valued at $31,016,000 after acquiring an additional 93,587 shares during the period. Westwood Holdings Group Inc. grew its position in shares of EnLink Midstream by 22.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after acquiring an additional 416,424 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of EnLink Midstream by 468.8% during the 2nd quarter. Mackenzie Financial Corp now owns 102,368 shares of the pipeline company’s stock valued at $1,409,000 after acquiring an additional 84,372 shares during the period. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Stock Performance

NYSE ENLC opened at $14.86 on Wednesday. EnLink Midstream, LLC has a 1 year low of $11.53 and a 1 year high of $14.87. 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 stock has a market capitalization of $6.86 billion, a PE ratio of 49.53 and a beta of 2.40. The company’s 50 day simple moving average is $14.41 and its two-hundred day simple moving average is $13.71.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (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 firm 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 earned $0.12 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts predict that EnLink Midstream, LLC will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a yield of 3.57%. The ex-dividend date is Friday, November 1st. EnLink Midstream’s dividend payout ratio is presently 176.67%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research report on Friday, August 30th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Wells Fargo & Company downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $16.00 to $15.00 in a research report on Friday, August 30th. 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. Finally, Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. 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 company’s stock. Based on data from MarketBeat, EnLink Midstream has an average rating of “Hold” and an average target price of $15.44.

Insiders Place Their Bets

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.84% of the company’s stock.

EnLink Midstream 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.