Wellington Management Group LLP Purchases 292,833 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Wellington Management Group LLP increased its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 268.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 402,099 shares of the pipeline company’s stock after buying an additional 292,833 shares during the quarter. Wellington Management Group LLP owned 0.09% of EnLink Midstream worth $5,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of EnLink Midstream by 100.8% during the 3rd quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after purchasing an additional 63,997 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in EnLink Midstream by 4.3% in the second quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company’s stock valued at $31,016,000 after buying an additional 93,587 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of EnLink Midstream by 4.7% in the second quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock valued at $32,363,000 after buying an additional 106,467 shares during the period. Walleye Capital LLC increased its position in shares of EnLink Midstream by 1,829.6% during the third quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock worth $4,095,000 after acquiring an additional 267,619 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after acquiring an additional 1,141,254 shares during the period. 45.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com began coverage on shares of EnLink Midstream in a research note on Saturday. They issued a “hold” rating for the company. UBS Group downgraded EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Monday, September 30th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Capital One Financial reaffirmed 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, Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Down 1.2 %

Shares of ENLC stock opened at $14.47 on Tuesday. EnLink Midstream, LLC has a 52-week low of $11.53 and a 52-week high of $16.40. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 68.90 and a beta of 2.44. The firm’s 50-day moving average is $15.11 and its 200-day moving average is $14.18.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The business 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 business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. Sell-side analysts predict that EnLink Midstream, LLC will post 0.51 EPS for the current year.

EnLink Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.1325 per share. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a yield of 3.66%. 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 firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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.