Thomist Capital Management LP Acquires New Shares in EnLink Midstream, LLC (NYSE:ENLC)

Thomist Capital Management LP bought a new position in EnLink Midstream, LLC (NYSE:ENLC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,948 shares of the pipeline company’s stock, valued at approximately $243,000.

Several other large investors have also recently bought and sold shares of ENLC. First Horizon Advisors Inc. increased its stake in shares of 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 during the period. First Dallas Securities Inc. raised its stake in shares of EnLink Midstream by 0.6% during the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock valued at $2,182,000 after acquiring an additional 960 shares during the last quarter. Callahan Advisors LLC lifted its holdings in shares of EnLink Midstream by 8.7% during the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock worth $172,000 after purchasing an additional 1,000 shares during the period. Bank of New York Mellon Corp grew its stake in shares of EnLink Midstream by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after purchasing an additional 1,151 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 1,343 shares during the period. 45.87% of the stock is currently owned by institutional investors.

EnLink Midstream Trading Down 1.5 %

NYSE:ENLC opened at $14.45 on Thursday. EnLink Midstream, LLC has a 12 month low of $11.44 and a 12 month high of $14.80. 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 stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 41.27 and a beta of 2.40. The firm has a fifty day simple moving average of $13.63 and a two-hundred day simple moving average of $13.42.

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

EnLink Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were given a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.67%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, August 2nd. EnLink Midstream’s dividend payout ratio is presently 151.43%.

Wall Street Analyst Weigh In

Several brokerages have commented on ENLC. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a report on Monday. Capital One Financial reissued an “equal weight” rating and set a $16.00 target price on shares of EnLink Midstream in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $16.00 to $15.00 in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EnLink Midstream currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.33.

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.