Exchange Traded Concepts LLC Boosts Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Exchange Traded Concepts LLC lifted its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 21.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 529,060 shares of the pipeline company’s stock after acquiring an additional 94,311 shares during the quarter. Exchange Traded Concepts LLC owned 0.12% of EnLink Midstream worth $7,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. ORG Partners LLC purchased a new position in EnLink Midstream in the second quarter valued at $28,000. Newbridge Financial Services Group Inc. acquired a new position in EnLink Midstream in the second quarter valued at $56,000. Sunbelt Securities Inc. boosted its stake in EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after acquiring an additional 1,343 shares in the last quarter. SG Americas Securities LLC acquired a new position in EnLink Midstream in the first quarter valued at $105,000. Finally, First Horizon Advisors Inc. boosted its stake in EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 853 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Up 1.1 %

Shares of EnLink Midstream stock opened at $14.76 on Monday. EnLink Midstream, LLC has a twelve month low of $11.53 and a twelve month high of $14.80. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 42.17 and a beta of 2.40. The company has a fifty day moving average price of $13.90 and a 200 day moving average price of $13.63.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 EPS. 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 given a $0.1325 dividend. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.53 annualized dividend and a yield of 3.59%. EnLink Midstream’s dividend payout ratio is 151.43%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ENLC. 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 downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research note on Monday, September 16th. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research note on Friday, August 30th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $16.00 to $15.00 in a research note on Friday, August 30th. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.