Atria Investments Inc Has $198,000 Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Atria Investments Inc reduced its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,678 shares of the pipeline company’s stock after selling 2,182 shares during the quarter. Atria Investments Inc’s holdings in EnLink Midstream were worth $198,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $28,000. Newbridge Financial Services Group Inc. acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $56,000. SG Americas Securities LLC acquired a new position in shares of EnLink Midstream in the 1st quarter valued at $105,000. First Horizon Advisors Inc. raised its stake in shares of EnLink Midstream by 12.5% in 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 in the last quarter. Finally, Sunbelt Securities Inc. raised its stake in shares of EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

EnLink Midstream Stock Performance

Shares of NYSE:ENLC opened at $15.75 on Monday. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 75.00 and a beta of 2.41. The firm’s 50 day simple moving average is $14.89 and its 200 day simple moving average is $13.95. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. EnLink Midstream, LLC has a fifty-two week low of $11.53 and a fifty-two week high of $15.85.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast that EnLink Midstream, LLC will post 0.55 earnings per share for the current year.

EnLink Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.37%. EnLink Midstream’s dividend payout ratio is 252.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ENLC. Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Friday, August 30th. Raymond James lowered shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a report on Monday, September 16th. Capital One Financial reissued an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a report on Tuesday, September 3rd. Finally, UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a report on Monday, September 30th. Nine research 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.40.

Insider Activity at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 available through the SEC website. 0.84% of the stock is currently owned by corporate insiders.

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.