Keybank National Association OH trimmed its holdings in shares of EnLink Midstream LLC (NYSE:ENLC) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,985 shares of the pipeline company’s stock after selling 3,300 shares during the period. Keybank National Association OH’s holdings in EnLink Midstream were worth $389,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its stake in EnLink Midstream by 24.5% during the 2nd quarter. BlackRock Inc. now owns 421,037 shares of the pipeline company’s stock worth $6,925,000 after acquiring an additional 82,754 shares during the period. Macquarie Group Ltd. bought a new position in shares of EnLink Midstream in the 2nd quarter valued at $102,000. California Public Employees Retirement System increased its stake in shares of EnLink Midstream by 10.4% in the 2nd quarter. California Public Employees Retirement System now owns 76,963 shares of the pipeline company’s stock valued at $1,266,000 after purchasing an additional 7,263 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of EnLink Midstream by 234.5% in the 3rd quarter. Alps Advisors Inc. now owns 172,209 shares of the pipeline company’s stock valued at $2,833,000 after purchasing an additional 120,727 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in shares of EnLink Midstream by 95.1% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 52,878 shares of the pipeline company’s stock valued at $870,000 after purchasing an additional 25,775 shares during the last quarter. Institutional investors and hedge funds own 31.94% of the company’s stock.
Several equities analysts have recently issued reports on ENLC shares. Jefferies Financial Group upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Mitsubishi UFJ Financial Group upgraded EnLink Midstream from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $20.00 to $18.00 in a research note on Thursday, November 8th. Tudor Pickering started coverage on EnLink Midstream in a research note on Monday, November 5th. They issued a “hold” rating on the stock. Credit Suisse Group upgraded EnLink Midstream from a “neutral” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Tuesday, November 13th. Finally, Royal Bank of Canada decreased their price target on EnLink Midstream from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. EnLink Midstream presently has a consensus rating of “Hold” and a consensus target price of $16.86.
In other news, major shareholder Goldman Sachs Group Inc acquired 24,791 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were bought at an average price of $10.86 per share, with a total value of $269,230.26. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.45% of the company’s stock.
NYSE ENLC opened at $10.36 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.79 and a current ratio of 0.79. EnLink Midstream LLC has a twelve month low of $8.90 and a twelve month high of $18.40. The firm has a market cap of $1.88 billion, a P/E ratio of -207.20, a PEG ratio of 5.51 and a beta of 2.30.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, January 24th will be issued a dividend of $0.275 per share. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, January 23rd. This represents a $1.10 annualized dividend and a dividend yield of 10.62%. EnLink Midstream’s dividend payout ratio (DPR) is -2,200.00%.
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EnLink Midstream Company Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.
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