Miller Howard Investments Inc. NY grew its stake in shares of EnLink Midstream LLC (NYSE:ENLC) by 95.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,878 shares of the pipeline company’s stock after purchasing an additional 25,775 shares during the period. Miller Howard Investments Inc. NY’s holdings in EnLink Midstream were worth $870,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in ENLC. Tortoise Index Solutions LLC lifted its position in EnLink Midstream by 11.5% during the 2nd quarter. Tortoise Index Solutions LLC now owns 33,249 shares of the pipeline company’s stock valued at $547,000 after acquiring an additional 3,425 shares during the period. Wells Fargo & Company MN lifted its position in EnLink Midstream by 4.9% during the 1st quarter. Wells Fargo & Company MN now owns 80,712 shares of the pipeline company’s stock valued at $1,182,000 after acquiring an additional 3,748 shares during the period. Russell Investments Group Ltd. lifted its position in EnLink Midstream by 110.1% during the 1st quarter. Russell Investments Group Ltd. now owns 7,934 shares of the pipeline company’s stock valued at $116,000 after acquiring an additional 4,157 shares during the period. Stephens Inc. AR lifted its position in EnLink Midstream by 21.5% during the 2nd quarter. Stephens Inc. AR now owns 28,179 shares of the pipeline company’s stock valued at $464,000 after acquiring an additional 4,982 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in EnLink Midstream during the 2nd quarter valued at about $102,000. 32.04% of the stock is currently owned by hedge funds and other institutional investors.
ENLC opened at $12.99 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.68 and a quick ratio of 0.68. EnLink Midstream LLC has a twelve month low of $12.73 and a twelve month high of $20.00. The company has a market cap of $2.45 billion, a PE ratio of -259.80 and a beta of 2.62.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, October 29th will be issued a dividend of $0.271 per share. This represents a $1.08 annualized dividend and a dividend yield of 8.34%. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, October 26th. EnLink Midstream’s payout ratio is presently -2,160.00%.
A number of research analysts recently issued reports on the stock. ValuEngine raised shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Robert W. Baird reaffirmed a “hold” rating and issued a $18.00 target price on shares of EnLink Midstream in a report on Monday, August 6th. Raymond James reaffirmed a “buy” rating and issued a $19.00 target price on shares of EnLink Midstream in a report on Friday, August 17th. Credit Suisse Group initiated coverage on shares of EnLink Midstream in a report on Thursday, October 11th. They issued a “neutral” rating and a $19.00 target price for the company. Finally, Barclays lifted their target price on shares of EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.79.
In other news, EVP Alaina K. Brooks sold 48,442 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $17.36, for a total transaction of $840,953.12. Following the completion of the transaction, the executive vice president now directly owns 78,190 shares of the company’s stock, valued at $1,357,378.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.24% of the stock is owned by insiders.
EnLink Midstream Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.
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