Atria Investments Inc Sells 2,182 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Atria Investments Inc cut its position in EnLink Midstream, LLC (NYSE:ENLC) by 13.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,678 shares of the pipeline company’s stock after selling 2,182 shares during the quarter. Atria Investments Inc’s holdings in EnLink Midstream were worth $198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC bought a new position in shares of EnLink Midstream in the second quarter valued at $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of EnLink Midstream in the second quarter valued at $56,000. SG Americas Securities LLC bought a new position in shares of EnLink Midstream in the first quarter valued at $105,000. First Horizon Advisors Inc. grew its stake in shares of EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after buying an additional 853 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares in the last quarter. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Stock Up 0.5 %

ENLC stock opened at $15.75 on Monday. The company has a market cap of $7.20 billion, a PE ratio of 75.00 and a beta of 2.41. The business has a 50-day simple moving average of $14.89 and a 200 day simple moving average of $13.95. EnLink Midstream, LLC has a 52 week low of $11.53 and a 52 week high of $15.85. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. Sell-side analysts anticipate that EnLink Midstream, LLC will post 0.55 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

Wall Street Analysts Forecast Growth

ENLC has been the subject of a number of research analyst reports. Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Friday, August 30th. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday, August 16th. Mizuho reaffirmed a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, Wells Fargo & Company cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.40.

Insider Activity at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is owned by insiders.

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.