EnLink Midstream, LLC (NYSE:ENLC) Shares Acquired by Citigroup Inc.

Citigroup Inc. increased its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 267,761 shares of the pipeline company’s stock after buying an additional 1,473 shares during the period. Citigroup Inc. owned about 0.06% of EnLink Midstream worth $3,885,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at about $28,000. Newbridge Financial Services Group Inc. acquired a new position in EnLink Midstream during the 2nd quarter valued at about $56,000. First Horizon Advisors Inc. boosted its stake 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 purchasing an additional 853 shares during the period. Sunbelt Securities Inc. boosted its stake in EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 1,511 shares during the period. Finally, Inscription Capital LLC acquired a new position in EnLink Midstream during the 3rd quarter valued at about $154,000. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Stock Down 0.1 %

Shares of ENLC opened at $15.55 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The company has a 50-day moving average price of $15.05 and a two-hundred day moving average price of $14.06. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 74.05 and a beta of 2.44. EnLink Midstream, LLC has a 12 month low of $11.53 and a 12 month high of $16.40.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was down 7.9% on a year-over-year basis. Equities analysts predict that EnLink Midstream, LLC will post 0.51 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.1325 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.41%. EnLink Midstream’s dividend payout ratio (DPR) is currently 252.38%.

Insider Activity

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $16.00 to $15.00 in a report on Friday, August 30th. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research report on Friday, August 30th. US Capital Advisors downgraded shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, November 21st. Finally, Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, August 16th. Ten investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EnLink Midstream has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Company 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.