UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 255,855 Shares of EnLink Midstream, LLC (NYSE:ENLC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 121.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 466,559 shares of the pipeline company’s stock after purchasing an additional 255,855 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of EnLink Midstream worth $6,770,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ORG Partners LLC bought a new position in shares of EnLink Midstream during the 2nd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of EnLink Midstream during the 2nd quarter worth approximately $56,000. First Horizon Advisors Inc. raised its stake in shares of EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 853 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after acquiring an additional 1,511 shares in the last quarter. Finally, Inscription Capital LLC bought a new position in shares of EnLink Midstream during the 3rd quarter worth approximately $154,000. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Down 0.9 %

ENLC stock opened at $14.67 on Wednesday. The firm’s fifty day simple moving average is $15.11 and its 200-day simple moving average is $14.12. The company has a market capitalization of $6.71 billion, a P/E ratio of 69.86 and a beta of 2.44. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. EnLink Midstream, LLC has a 12 month low of $11.53 and a 12 month high of $16.40.

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

EnLink Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ENLC. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, August 16th. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a research note on Monday, September 16th. Mizuho restated a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, October 31st. Finally, Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.40.

Insider Buying and Selling

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.84% of the stock is currently owned by insiders.

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.