State of New Jersey Common Pension Fund D Sells 7,302 Shares of EnLink Midstream, LLC (NYSE:ENLC)

State of New Jersey Common Pension Fund D lowered its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,368 shares of the pipeline company’s stock after selling 7,302 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in EnLink Midstream were worth $2,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Clearbridge Investments LLC purchased a new position in EnLink Midstream in the first quarter worth $873,000. Janus Henderson Group PLC bought a new stake in shares of EnLink Midstream during the 1st quarter worth $1,453,000. Miller Howard Investments Inc. NY boosted its holdings in shares of EnLink Midstream by 4.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company’s stock worth $31,016,000 after buying an additional 93,587 shares during the last quarter. Westwood Holdings Group Inc. grew its position in 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 valued at $30,629,000 after buying an additional 416,424 shares during the period. Finally, Van ECK Associates Corp raised its position in EnLink Midstream by 100.8% in the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock worth $1,883,000 after acquiring an additional 63,997 shares during the period. Hedge funds and other institutional investors own 45.87% of the company’s stock.

Wall Street Analyst Weigh In

ENLC has been the subject of a number of research reports. 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. Stifel Nicolaus downgraded EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research report on Friday, August 30th. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Finally, Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Nine 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 company’s stock. According to data from MarketBeat, EnLink Midstream currently has an average rating of “Hold” and a consensus target price of $15.40.

Insider Transactions at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by insiders.

EnLink Midstream Stock Performance

NYSE ENLC opened at $15.34 on Friday. The company’s 50 day simple moving average is $14.73 and its two-hundred day simple moving average is $13.83. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.65. EnLink Midstream, LLC has a 1 year low of $11.53 and a 1 year high of $15.67. The stock has a market capitalization of $7.08 billion, a PE ratio of 73.00 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. Analysts predict that EnLink Midstream, LLC will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s payout ratio is 252.38%.

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.