Walleye Capital LLC Raises Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

Walleye Capital LLC grew its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 1,829.6% in the third quarter, Holdings Channel.com reports. The fund owned 282,246 shares of the pipeline company’s stock after purchasing an additional 267,619 shares during the period. Walleye Capital LLC’s holdings in EnLink Midstream were worth $4,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC purchased a new stake in EnLink Midstream during the second quarter worth $28,000. Newbridge Financial Services Group Inc. acquired a new position in shares of EnLink Midstream during the 2nd quarter worth $56,000. First Horizon Advisors Inc. raised its stake in shares of EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after buying an additional 853 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after buying an additional 1,511 shares in the last quarter. Finally, Inscription Capital LLC purchased a new position in EnLink Midstream during the 3rd quarter valued at about $154,000. Institutional investors and hedge funds own 45.87% of the company’s stock.

EnLink Midstream Trading Up 1.0 %

NYSE ENLC opened at $16.01 on Monday. The company has a market cap of $7.32 billion, a P/E ratio of 76.24 and a beta of 2.41. EnLink Midstream, LLC has a 12 month low of $11.53 and a 12 month high of $16.40. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50-day moving average of $15.02 and a 200-day moving average of $14.03.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. As a group, equities analysts predict that EnLink Midstream, LLC will post 0.51 earnings per share for the current year.

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream’s payout ratio is currently 252.38%.

Wall Street Analyst Weigh In

ENLC has been the topic of several recent research reports. Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a report on Monday, September 16th. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, November 21st. Raymond James downgraded EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Finally, Mizuho reiterated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Ten equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.40.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is owned by company insiders.

About EnLink Midstream

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.