11,966 Shares in EnLink Midstream, LLC (NYSE:ENLC) Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in EnLink Midstream, LLC (NYSE:ENLC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,966 shares of the pipeline company’s stock, valued at approximately $174,000.

A number of other hedge funds have also made changes to their positions in the stock. ORG Partners LLC acquired a new stake in EnLink Midstream in the second quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. acquired a new position in EnLink Midstream in the 2nd quarter valued at $56,000. Icon Wealth Advisors LLC bought a new position in EnLink Midstream in the 3rd quarter worth $107,000. First Horizon Advisors Inc. lifted its position in EnLink Midstream by 12.5% during the 2nd 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. Finally, Sunbelt Securities Inc. boosted its holdings in EnLink Midstream by 21.9% during the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after acquiring an additional 1,511 shares during the period. 45.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ENLC shares. Stifel Nicolaus cut 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. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. UBS Group lowered shares of 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. Raymond James downgraded shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Finally, Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EnLink Midstream has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Performance

NYSE ENLC opened at $14.64 on Monday. EnLink Midstream, LLC has a twelve month low of $11.53 and a twelve month high of $16.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a market cap of $6.69 billion, a P/E ratio of 69.71 and a beta of 2.44. The company’s 50-day simple moving average is $15.11 and its 200 day simple moving average is $14.17.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, research analysts forecast that EnLink Midstream, LLC will post 0.51 earnings per share for the current fiscal year.

EnLink Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

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.