Insight Folios Inc Buys 3,510 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Insight Folios Inc raised its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 16.3% in the third quarter, Holdings Channel reports. The institutional investor owned 25,077 shares of the pipeline company’s stock after buying an additional 3,510 shares during the quarter. Insight Folios Inc’s holdings in EnLink Midstream were worth $364,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its position in shares of EnLink Midstream by 24.2% in the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,343 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in EnLink Midstream by 1.9% in the first quarter. Maryland State Retirement & Pension System now owns 202,971 shares of the pipeline company’s stock worth $2,732,000 after buying an additional 3,842 shares during the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in shares of EnLink Midstream by 10.8% in the first quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 32,700 shares of the pipeline company’s stock worth $446,000 after buying an additional 3,200 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of EnLink Midstream during the first quarter valued at approximately $105,000. Finally, Clearbridge Investments LLC bought a new stake in shares of EnLink Midstream during the first quarter valued at approximately $873,000. 45.87% of the stock is owned by institutional investors.

EnLink Midstream Price Performance

NYSE ENLC opened at $14.81 on Monday. The company has a 50-day moving average price of $14.36 and a 200-day moving average price of $13.69. EnLink Midstream, LLC has a 52 week low of $11.53 and a 52 week high of $14.87. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $6.83 billion, a P/E ratio of 49.37 and a beta of 2.40.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share. Equities research analysts anticipate that EnLink Midstream, LLC will post 0.58 earnings per share for the current year.

EnLink Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.1325 dividend. 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 3.58%. EnLink Midstream’s dividend payout ratio is currently 176.67%.

Insider Activity at EnLink Midstream

In related 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 stock was sold at an average price of $14.90, for a total transaction 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. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Capital One Financial reaffirmed an “equal weight” rating and issued a $16.00 price objective on shares of EnLink Midstream in a research report on Tuesday, September 3rd. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a report on Monday, September 16th. Royal Bank of Canada restated a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $16.00 to $15.00 in a research note on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.44.

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.