Westwood Holdings Group Inc. Acquires 106,467 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Westwood Holdings Group Inc. lifted its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,351,996 shares of the pipeline company’s stock after purchasing an additional 106,467 shares during the period. Westwood Holdings Group Inc. owned about 0.52% of EnLink Midstream worth $32,363,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC bought a new position in shares of EnLink Midstream during the 2nd quarter valued at $28,000. Sunbelt Securities Inc. boosted its position in EnLink Midstream by 24.2% during the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after buying an additional 1,343 shares during the period. SG Americas Securities LLC purchased a new stake in EnLink Midstream during the 1st quarter valued at $105,000. First Horizon Advisors Inc. boosted 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 valued at $106,000 after buying an additional 853 shares during the period. Finally, Callahan Advisors LLC boosted its position in EnLink Midstream by 8.7% during the 2nd quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after buying an additional 1,000 shares during the period. Institutional investors own 45.87% of the company’s stock.

Wall Street Analysts Forecast Growth

ENLC has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Friday, August 30th. Wells Fargo & Company cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $16.00 to $15.00 in a research report on Friday, August 30th. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, August 16th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EnLink Midstream currently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

EnLink Midstream Stock Up 0.8 %

Shares of EnLink Midstream stock opened at $14.62 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50-day moving average of $13.66 and a 200 day moving average of $13.45. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of 41.77 and a beta of 2.40. EnLink Midstream, LLC has a 1 year low of $11.44 and a 1 year high of $14.80.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. As a group, sell-side analysts anticipate that EnLink Midstream, LLC will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.1325 per share. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Friday, August 2nd. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

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.