B. Riley Wealth Advisors Inc. Has $711,000 Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

B. Riley Wealth Advisors Inc. lowered its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 25.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,695 shares of the pipeline company’s stock after selling 18,098 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in EnLink Midstream were worth $711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of EnLink Midstream during the second quarter worth $28,000. Sunbelt Securities Inc. increased its position in shares of EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,343 shares during the period. SG Americas Securities LLC bought a new position in shares of EnLink Midstream in the first quarter worth $105,000. First Horizon Advisors Inc. increased its position 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 worth $106,000 after purchasing an additional 853 shares during the period. Finally, Callahan Advisors LLC increased its position in shares of EnLink Midstream by 8.7% in 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. Institutional investors and hedge funds own 45.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price target on EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Wells Fargo & Company cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Finally, 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 research report on Friday, August 30th. Seven 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.44.

EnLink Midstream Stock Performance

EnLink Midstream stock opened at $14.69 on Friday. The stock has a market cap of $6.63 billion, a PE ratio of 41.97 and a beta of 2.40. 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 business’s 50-day moving average price is $13.79 and its two-hundred day moving average price is $13.58. EnLink Midstream, LLC has a 12-month low of $11.53 and a 12-month high of $14.80.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results 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). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. As a group, analysts expect that EnLink Midstream, LLC will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.1325 per share. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, August 2nd. EnLink Midstream’s payout ratio is 151.43%.

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.