Raymond James Financial Services Advisors Inc. Boosts Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Raymond James Financial Services Advisors Inc. raised its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,461 shares of the pipeline company’s stock after buying an additional 2,217 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in EnLink Midstream were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. National Bank of Canada FI acquired a new position in shares of EnLink Midstream in the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. lifted its stake in shares of EnLink Midstream by 232.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock valued at $67,000 after purchasing an additional 3,837 shares in the last quarter. Spirit of America Management Corp NY acquired a new position in shares of EnLink Midstream in the 3rd quarter valued at about $73,000. First Horizon Advisors Inc. lifted its stake in shares of EnLink Midstream by 14.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock valued at $84,000 after purchasing an additional 885 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new position in shares of EnLink Midstream in the 3rd quarter valued at about $98,000. Hedge funds and other institutional investors own 45.87% of the company’s stock.

Analyst Ratings Changes

ENLC has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Capital One Financial started coverage on EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price target on the stock. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. UBS Group boosted their price target on EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Citigroup boosted their price target on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.63.

EnLink Midstream Stock Performance

Shares of ENLC opened at $13.78 on Thursday. The business’s 50 day moving average is $13.08 and its two-hundred day moving average is $12.66. EnLink Midstream, LLC has a 52-week low of $8.45 and a 52-week high of $14.18. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 31.32 and a beta of 2.39. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Analysts forecast that EnLink Midstream, LLC will post 0.6 EPS for the current fiscal year.

EnLink Midstream Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be issued a $0.132 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.83%. EnLink Midstream’s dividend payout ratio (DPR) is 120.45%.

Insider Activity

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the sale, the chief financial officer now directly owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the sale, the chief financial officer now directly owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value of $616,000.00. Following the transaction, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at $719,611.20. The disclosure for this sale can be found here. 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.