EnLink Midstream, LLC (NYSE:ENLC) Stock Position Increased by Entropy Technologies LP

Entropy Technologies LP lifted its position in EnLink Midstream, LLC (NYSE:ENLC) by 25.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,691 shares of the pipeline company’s stock after buying an additional 11,800 shares during the period. Entropy Technologies LP’s holdings in EnLink Midstream were worth $837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of EnLink Midstream during the second quarter worth $28,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of EnLink Midstream during the second quarter worth $56,000. SG Americas Securities LLC acquired a new stake in shares of EnLink Midstream during the first quarter worth $105,000. First Horizon Advisors Inc. raised its position in shares of EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 853 shares during the period. Finally, Sunbelt Securities Inc. raised its position in shares of EnLink Midstream by 21.9% during the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 1,511 shares during the period. Institutional investors own 45.87% of the company’s stock.

Insider Buying and Selling at EnLink Midstream

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

EnLink Midstream Price Performance

Shares of NYSE:ENLC opened at $15.34 on Friday. The business has a 50 day moving average price of $14.73 and a 200 day moving average price of $13.83. EnLink Midstream, LLC has a twelve month low of $11.53 and a twelve month high of $15.67. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 73.02 and a beta of 2.41. The company has a quick ratio of 0.65, a current ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.16). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. EnLink Midstream’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. Research analysts predict that EnLink Midstream, LLC will post 0.58 earnings per share for the current year.

EnLink Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.46%. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ENLC shares. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, August 16th. Raymond James lowered EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. 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, August 29th. Finally, Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $16.00 to $15.00 in a research report on Friday, August 30th. Nine 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 stock. Based on data from MarketBeat, EnLink Midstream presently has an average rating of “Hold” and an average price target of $15.40.

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.