EnLink Midstream LLC (NYSE:ENLC) Chairman Barry E. Davis bought 136,700 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $7.32 per share, with a total value of $1,000,644.00. Following the completion of the acquisition, the chairman now directly owns 1,892,372 shares of the company’s stock, valued at approximately $13,852,163.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE ENLC opened at $7.54 on Friday. EnLink Midstream LLC has a twelve month low of $7.14 and a twelve month high of $17.65. The firm has a market cap of $3.62 billion, a P/E ratio of -107.71, a PEG ratio of 6.21 and a beta of 2.00. The company has a 50 day moving average of $9.56 and a 200 day moving average of $10.86. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93.
EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). EnLink Midstream had a negative return on equity of 0.16% and a negative net margin of 3.21%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the firm earned $0.15 earnings per share. EnLink Midstream’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts expect that EnLink Midstream LLC will post 0.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Monday, July 29th were issued a $0.283 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. This represents a $1.13 dividend on an annualized basis and a yield of 15.01%. The ex-dividend date of this dividend was Friday, July 26th. EnLink Midstream’s payout ratio is presently -1,614.29%.
ENLC has been the subject of several recent research reports. Royal Bank of Canada reiterated a “buy” rating and set a $12.00 target price on shares of EnLink Midstream in a report on Sunday, August 11th. Jefferies Financial Group upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and lowered their target price for the company from $13.00 to $12.00 in a report on Monday, July 15th. Barclays reiterated a “hold” rating and set a $12.00 target price on shares of EnLink Midstream in a report on Thursday, July 18th. Mitsubishi UFJ Financial Group lowered shares of EnLink Midstream from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $15.00 to $10.00 in a report on Wednesday, August 7th. Finally, Mizuho initiated coverage on shares of EnLink Midstream in a report on Thursday, July 25th. They set a “neutral” rating and a $11.50 target price for the company. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.45.
A number of hedge funds and other institutional investors have recently made changes to their positions in ENLC. BlackRock Inc. grew its stake in shares of EnLink Midstream by 11.7% in the 4th quarter. BlackRock Inc. now owns 475,306 shares of the pipeline company’s stock valued at $4,512,000 after buying an additional 49,855 shares in the last quarter. Northern Trust Corp grew its stake in shares of EnLink Midstream by 1.7% in the 4th quarter. Northern Trust Corp now owns 304,449 shares of the pipeline company’s stock valued at $2,890,000 after buying an additional 4,988 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of EnLink Midstream by 5.8% in the 4th quarter. Two Sigma Advisers LP now owns 40,500 shares of the pipeline company’s stock valued at $384,000 after buying an additional 2,220 shares in the last quarter. Bank of America Corp DE grew its stake in shares of EnLink Midstream by 686.1% in the 4th quarter. Bank of America Corp DE now owns 179,939 shares of the pipeline company’s stock valued at $1,707,000 after buying an additional 157,048 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of EnLink Midstream by 263.3% in the 4th quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock valued at $38,000 after buying an additional 2,899 shares in the last quarter. Institutional investors own 48.92% of the company’s stock.
About EnLink Midstream
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.
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