Dimensional Fund Advisors LP Has $93.88 Million Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

Dimensional Fund Advisors LP lifted its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,823,891 shares of the pipeline company’s stock after purchasing an additional 133,327 shares during the period. Dimensional Fund Advisors LP owned 1.51% of EnLink Midstream worth $93,884,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of EnLink Midstream by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 1,586,315 shares of the pipeline company’s stock valued at $21,828,000 after buying an additional 10,296 shares during the last quarter. First Dallas Securities Inc. raised its holdings in EnLink Midstream by 0.6% during the 2nd quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock worth $2,182,000 after purchasing an additional 960 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of EnLink Midstream by 73.8% in the 2nd quarter. Van ECK Associates Corp now owns 63,465 shares of the pipeline company’s stock worth $873,000 after purchasing an additional 26,952 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of EnLink Midstream by 52.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 82,336 shares of the pipeline company’s stock valued at $1,133,000 after purchasing an additional 28,264 shares during the last quarter. Finally, Callahan Advisors LLC increased its position 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 buying an additional 1,000 shares during the period. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Performance

ENLC opened at $14.60 on Wednesday. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 41.71 and a beta of 2.40. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. EnLink Midstream, LLC has a 1-year low of $11.44 and a 1-year high of $14.80. The company’s fifty day moving average price is $13.69 and its two-hundred day moving average price is $13.48.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share 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 company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the business posted $0.12 earnings per share. EnLink Midstream’s revenue was up 1.4% on a year-over-year basis. On average, analysts expect that EnLink Midstream, LLC will post 0.59 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were given a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.63%. This is an increase 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 presently 151.43%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, August 29th. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus downgraded 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 report on Friday, August 30th. Finally, Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research note on Monday, September 16th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.33.

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.