Ladenburg Thalmann Financial Services Inc. trimmed its position in EnLink Midstream LLC (NYSE:ENLC) by 24.0% in the second quarter, HoldingsChannel.com reports. The firm owned 10,372 shares of the pipeline company’s stock after selling 3,270 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in EnLink Midstream were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of ENLC. Walnut Private Equity Partners LLC raised its stake in EnLink Midstream by 22.0% during the second quarter. Walnut Private Equity Partners LLC now owns 321,092 shares of the pipeline company’s stock worth $3,212,000 after acquiring an additional 57,795 shares in the last quarter. Arlington Partners LLC acquired a new position in EnLink Midstream during the second quarter worth $30,000. Valeo Financial Advisors LLC acquired a new position in EnLink Midstream during the second quarter worth $35,000. Chickasaw Capital Management LLC raised its stake in EnLink Midstream by 4.5% during the second quarter. Chickasaw Capital Management LLC now owns 23,543,728 shares of the pipeline company’s stock worth $237,556,000 after acquiring an additional 1,012,917 shares in the last quarter. Finally, CWM Advisors LLC raised its stake in EnLink Midstream by 34.9% during the second quarter. CWM Advisors LLC now owns 17,160 shares of the pipeline company’s stock worth $173,000 after acquiring an additional 4,440 shares in the last quarter. Institutional investors and hedge funds own 47.25% of the company’s stock.
ENLC has been the subject of several recent analyst reports. ValuEngine upgraded EnLink Midstream from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered EnLink Midstream from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Mizuho initiated coverage on EnLink Midstream in a research note on Thursday, July 25th. They set a “neutral” rating and a $11.50 price objective for the company. Robert W. Baird dropped their price objective on EnLink Midstream from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada restated a “buy” rating and set a $12.00 target price on shares of EnLink Midstream in a report on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $10.59.
Shares of ENLC stock opened at $7.06 on Friday. The stock’s fifty day moving average is $7.87 and its 200-day moving average is $9.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. EnLink Midstream LLC has a 52 week low of $6.63 and a 52 week high of $14.44.
EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.85 billion. EnLink Midstream had a negative return on equity of 0.16% and a negative net margin of 3.21%. EnLink Midstream’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, analysts predict that EnLink Midstream LLC will post 0.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.283 per share. This represents a $1.13 annualized dividend and a dividend yield of 16.03%. The ex-dividend date of this dividend is Friday, October 25th. EnLink Midstream’s payout ratio is presently -1,614.29%.
EnLink Midstream Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.
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