Eagle Global Advisors LLC Acquires 48,200 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Eagle Global Advisors LLC increased its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,179,296 shares of the pipeline company’s stock after purchasing an additional 48,200 shares during the period. Eagle Global Advisors LLC owned 0.26% of EnLink Midstream worth $14,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP lifted its position in shares of EnLink Midstream by 6.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,860,400 shares of the pipeline company’s stock worth $22,622,000 after buying an additional 111,300 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of EnLink Midstream by 11.0% in the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after purchasing an additional 4,200,733 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in EnLink Midstream in the third quarter worth $3,246,000. TCG Advisory Services LLC bought a new stake in EnLink Midstream in the fourth quarter worth $2,991,000. Finally, UBS Group AG lifted its position in EnLink Midstream by 22.9% during the third quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock valued at $18,848,000 after purchasing an additional 287,400 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors.

Insider Transactions at EnLink Midstream

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the sale, the chief financial officer now directly owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Citigroup upped their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Capital One Financial started coverage on EnLink Midstream in a report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 target price for the company. Finally, StockNews.com lowered EnLink Midstream from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.33.

EnLink Midstream Trading Up 0.5 %

Shares of ENLC stock traded up $0.06 on Friday, reaching $12.92. 1,511,573 shares of the company’s stock were exchanged, compared to its average volume of 1,918,691. The company’s fifty day simple moving average is $13.45 and its 200 day simple moving average is $12.79. EnLink Midstream, LLC has a 52 week low of $9.52 and a 52 week high of $14.18. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $5.83 billion, a PE ratio of 36.74 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. As a group, analysts forecast that EnLink Midstream, LLC will post 0.55 EPS for the current year.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th were given a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is presently 151.43%.

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.