Swiss National Bank Reduces Stake in EnLink Midstream, LLC (NYSE:ENLC)

Swiss National Bank trimmed its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 1.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 440,523 shares of the pipeline company’s stock after selling 5,000 shares during the quarter. Swiss National Bank’s holdings in EnLink Midstream were worth $6,392,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new stake in EnLink Midstream in the 1st quarter valued at $1,453,000. Van ECK Associates Corp boosted its stake in shares of EnLink Midstream by 100.8% during the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock worth $1,883,000 after buying an additional 63,997 shares during the period. Miller Howard Investments Inc. NY grew its holdings in shares of EnLink Midstream by 4.3% during the second 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. increased its position in EnLink Midstream by 22.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after acquiring an additional 416,424 shares during the period. Finally, Catalyst Capital Advisors LLC raised its stake in EnLink Midstream by 120.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock valued at $30,348,000 after acquiring an additional 1,141,254 shares during the last quarter. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENLC has been the topic of a number of recent research reports. Capital One Financial reissued an “equal weight” rating and issued a $16.00 target price on shares of EnLink Midstream in a report on Tuesday, September 3rd. Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Friday, August 30th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, August 16th. Mizuho restated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, Wells Fargo & Company cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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 business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.84% of the company’s stock.

EnLink Midstream Stock Up 2.0 %

EnLink Midstream stock opened at $15.91 on Wednesday. EnLink Midstream, LLC has a fifty-two week low of $11.53 and a fifty-two week high of $16.40. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 75.76 and a beta of 2.41. The stock’s fifty day moving average is $14.94 and its two-hundred day moving average is $13.98. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. EnLink Midstream’s revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Analysts predict that EnLink Midstream, LLC will post 0.55 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.1325 per share. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.33%. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

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.