Segment Wealth Management LLC Has $2.09 Million Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

Segment Wealth Management LLC lifted its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,869 shares of the pipeline company’s stock after buying an additional 6,265 shares during the period. Segment Wealth Management LLC’s holdings in EnLink Midstream were worth $2,088,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. ORG Partners LLC acquired a new position in shares of EnLink Midstream during the second quarter worth $28,000. Newbridge Financial Services Group Inc. bought a new stake in shares of EnLink Midstream in the 2nd quarter valued at about $56,000. Sunbelt Securities Inc. increased its stake in shares of 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 buying an additional 1,343 shares during the period. SG Americas Securities LLC bought a new position in shares of EnLink Midstream during the first quarter worth about $105,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of EnLink Midstream by 12.5% in the second 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 during the period. 45.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ENLC shares. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Wells Fargo & Company lowered shares of 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 report on Friday, August 30th. Tudor, Pickering, Holt & Co. upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, August 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, August 29th. Finally, Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, EnLink Midstream has an average rating of “Hold” and a consensus target price of $15.44.

EnLink Midstream Trading Up 0.6 %

NYSE ENLC opened at $14.74 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. EnLink Midstream, LLC has a 52 week low of $11.53 and a 52 week high of $14.84. The business has a 50 day moving average price of $14.24 and a 200-day moving average price of $13.67. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 49.12 and a beta of 2.40.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, equities analysts expect that EnLink Midstream, LLC will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.1325 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a yield of 3.60%. EnLink Midstream’s dividend payout ratio (DPR) is currently 176.67%.

Insider Buying and Selling at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

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.