Sunbelt Securities Inc. Has $94,000 Stake in EnLink Midstream, LLC (NYSE:ENLC)

Sunbelt Securities Inc. grew its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 24.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,885 shares of the pipeline company’s stock after acquiring an additional 1,343 shares during the period. Sunbelt Securities Inc.’s holdings in EnLink Midstream were worth $94,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ENLC. Alps Advisors Inc. grew its stake in EnLink Midstream by 11.0% during the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after purchasing an additional 4,200,733 shares during the period. Hennessy Advisors Inc. increased its stake in shares of EnLink Midstream by 1,614.2% in the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after acquiring an additional 1,759,500 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of EnLink Midstream by 13.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company’s stock valued at $37,618,000 after acquiring an additional 378,450 shares during the period. Wells Fargo & Company MN boosted its stake in EnLink Midstream by 56.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,034,809 shares of the pipeline company’s stock worth $12,583,000 after acquiring an additional 373,969 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in EnLink Midstream by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,736,175 shares of the pipeline company’s stock worth $81,911,000 after purchasing an additional 342,204 shares during the period. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Price Performance

Shares of NYSE ENLC opened at $13.76 on Friday. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 39.31 and a beta of 2.36. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.78 and a current ratio of 0.78. EnLink Midstream, LLC has a fifty-two week low of $10.27 and a fifty-two week high of $14.18. The firm’s 50-day simple moving average is $13.24 and its 200 day simple moving average is $12.82.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. As a group, research analysts anticipate that EnLink Midstream, LLC will post 0.62 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th were paid a $0.132 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $0.53 annualized dividend and a dividend yield of 3.84%. EnLink Midstream’s payout ratio is 151.43%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ENLC. Capital One Financial began coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective on the stock. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a report on Monday, June 24th. Finally, Citigroup boosted their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.33.

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.