Wealth Enhancement Advisory Services LLC Buys 1,958 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 13.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,090 shares of the pipeline company’s stock after buying an additional 1,958 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in EnLink Midstream were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ENLC. ORG Partners LLC purchased a new stake in EnLink Midstream in the 2nd quarter valued at $28,000. Newbridge Financial Services Group Inc. purchased a new position in EnLink Midstream in the second quarter worth approximately $56,000. SG Americas Securities LLC acquired a new position in EnLink Midstream during the 1st quarter worth approximately $105,000. First Horizon Advisors Inc. raised its stake in EnLink Midstream by 12.5% in the second 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 in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after acquiring an additional 1,511 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho restated a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Wells Fargo & Company downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Friday, August 30th. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a report on Monday, September 16th. Finally, Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, EnLink Midstream has an average rating of “Hold” and an average target price of $15.40.

Insider Activity at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 SEC, which is accessible through this link. 0.84% of the stock is currently owned by corporate insiders.

EnLink Midstream Stock Up 1.7 %

Shares of ENLC stock opened at $15.47 on Tuesday. EnLink Midstream, LLC has a 12-month low of $11.53 and a 12-month high of $15.67. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm has a fifty day moving average of $14.66 and a 200-day moving average of $13.80. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 72.43 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a return on equity of 8.82% and a net margin of 1.96%. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. As a group, equities research analysts predict that EnLink Midstream, LLC will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.1325 per share. The ex-dividend date is Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.43%. EnLink Midstream’s payout ratio is currently 252.38%.

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.