Cetera Investment Advisers Lowers Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

Cetera Investment Advisers trimmed its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,621 shares of the pipeline company’s stock after selling 1,269 shares during the quarter. Cetera Investment Advisers’ holdings in EnLink Midstream were worth $1,797,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ENLC. HITE Hedge Asset Management LLC grew its position in shares of EnLink Midstream by 2,629.4% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock worth $27,560,000 after buying an additional 1,929,551 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in EnLink Midstream by 5.5% in the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after acquiring an additional 759,994 shares in the last quarter. Millennium Management LLC grew its holdings in EnLink Midstream by 1,433.6% in the second quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock worth $6,850,000 after purchasing an additional 465,383 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of EnLink Midstream by 22.8% during the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock worth $30,629,000 after purchasing an additional 416,424 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of EnLink Midstream by 64.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 969,102 shares of the pipeline company’s stock valued at $13,335,000 after purchasing an additional 380,729 shares during the last quarter. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Trading Down 0.4 %

Shares of NYSE:ENLC opened at $14.71 on Tuesday. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 42.01 and a beta of 2.40. The business’s 50 day moving average price is $13.94 and its 200-day moving average price is $13.64. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. EnLink Midstream, LLC has a 1 year low of $11.53 and a 1 year high of $14.80.

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

EnLink Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.1325 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.60%. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio is presently 151.43%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $16.00 to $15.00 in a research report on Friday, August 30th. Capital One Financial reaffirmed an “equal weight” rating and issued a $16.00 price objective on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, August 29th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EnLink Midstream currently has a consensus rating of “Hold” and a consensus price target of $15.44.

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.