EnLink Midstream, LLC (NYSE:ENLC) Shares Purchased by Millennium Management LLC

Millennium Management LLC raised its position in EnLink Midstream, LLC (NYSE:ENLC) by 1,433.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 497,846 shares of the pipeline company’s stock after purchasing an additional 465,383 shares during the period. Millennium Management LLC owned 0.11% of EnLink Midstream worth $6,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. ORG Partners LLC acquired a new stake in EnLink Midstream during the 2nd quarter worth $28,000. Sunbelt Securities Inc. increased its holdings 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 acquiring an additional 1,343 shares in the last quarter. SG Americas Securities LLC purchased a new position in EnLink Midstream during the 1st quarter valued at about $105,000. First Horizon Advisors Inc. increased its holdings 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 acquiring an additional 853 shares in the last quarter. Finally, Callahan Advisors LLC increased its holdings 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 acquiring an additional 1,000 shares in the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a report on Monday, September 16th. Wells Fargo & Company downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $16.00 to $15.00 in a report on Friday, August 30th. JPMorgan Chase & Co. lifted their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Capital One Financial reiterated an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. Finally, UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.44.

EnLink Midstream Price Performance

Shares of ENLC stock opened at $14.60 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm has a fifty day simple moving average of $13.84 and a 200-day simple moving average of $13.61. The company has a market capitalization of $6.59 billion, a PE ratio of 41.71 and a beta of 2.40. EnLink Midstream, LLC has a twelve month low of $11.53 and a twelve month high of $14.80.

EnLink Midstream (NYSE:ENLC) last posted 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 company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 earnings per share. Equities research analysts anticipate that EnLink Midstream, LLC will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.63%. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 2nd. EnLink Midstream’s dividend payout ratio is 151.43%.

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.