First Horizon Advisors Inc. Trims Position in EnLink Midstream, LLC (NYSE:ENLC)

First Horizon Advisors Inc. reduced its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 48.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,960 shares of the pipeline company’s stock after selling 3,742 shares during the period. First Horizon Advisors Inc.’s holdings in EnLink Midstream were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ENLC. Entropy Technologies LP boosted its holdings in EnLink Midstream by 25.7% in the third quarter. Entropy Technologies LP now owns 57,691 shares of the pipeline company’s stock valued at $837,000 after purchasing an additional 11,800 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of EnLink Midstream by 120.1% in 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 buying an additional 1,141,254 shares during the period. Van ECK Associates Corp boosted its stake in shares of 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 buying an additional 63,997 shares during the last quarter. Inscription Capital LLC acquired a new stake in EnLink Midstream during the third quarter worth about $154,000. Finally, Insight Folios Inc raised its position in EnLink Midstream by 16.3% during the third quarter. Insight Folios Inc now owns 25,077 shares of the pipeline company’s stock valued at $364,000 after acquiring an additional 3,510 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho reaffirmed a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Wells Fargo & Company cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $16.00 to $15.00 in a research report on Friday, August 30th. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a report on Monday, September 16th. Finally, UBS Group downgraded 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. 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 MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.40.

Insider Transactions at EnLink Midstream

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 value of $2,985,077,219.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

EnLink Midstream Stock Up 0.5 %

Shares of NYSE:ENLC opened at $15.75 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. EnLink Midstream, LLC has a fifty-two week low of $11.53 and a fifty-two week high of $15.85. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 75.00 and a beta of 2.41. The firm’s 50 day moving average price is $14.89 and its 200 day moving average price is $13.95.

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

EnLink Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is presently 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.