NBW Capital LLC Has $12.64 Million Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

NBW Capital LLC cut its position in EnLink Midstream, LLC (NYSE:ENLC) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,039,282 shares of the pipeline company’s stock after selling 28,506 shares during the quarter. EnLink Midstream comprises 2.8% of NBW Capital LLC’s holdings, making the stock its 6th biggest position. NBW Capital LLC’s holdings in EnLink Midstream were worth $12,638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alps Advisors Inc. grew its stake in shares of EnLink Midstream by 11.0% in the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock worth $518,001,000 after purchasing an additional 4,200,733 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of EnLink Midstream by 14.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 17,018,195 shares of the pipeline company’s stock worth $180,393,000 after buying an additional 2,189,358 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of EnLink Midstream by 70.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock worth $152,247,000 after acquiring an additional 5,152,252 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of EnLink Midstream by 7.1% in the first quarter. Dimensional Fund Advisors LP now owns 11,225,310 shares of the pipeline company’s stock valued at $108,324,000 after acquiring an additional 746,457 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of EnLink Midstream by 27.7% during the third quarter. Morgan Stanley now owns 6,731,813 shares of the pipeline company’s stock valued at $82,263,000 after acquiring an additional 1,458,984 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Trading Up 0.1 %

Shares of NYSE:ENLC traded up $0.01 during mid-day trading on Thursday, hitting $13.44. The stock had a trading volume of 389,267 shares, compared to its average volume of 1,937,897. EnLink Midstream, LLC has a 12-month low of $8.45 and a 12-month high of $14.18. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $6.09 billion, a PE ratio of 30.52 and a beta of 2.39. The company’s 50 day moving average is $12.91 and its 200-day moving average is $12.59.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. On average, sell-side analysts predict that EnLink Midstream, LLC will post 0.6 EPS for the current year.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is currently 120.46%.

Insider Activity at EnLink Midstream

In related news, CFO Benjamin D. Lamb sold 250,552 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now owns 534,000 shares of the company’s stock, valued at $6,450,720. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.32, for a total value of $616,000.00. Following the completion of the sale, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at $719,611.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the sale, the chief financial officer now owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ENLC has been the subject of a number of research analyst reports. StockNews.com downgraded EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Citigroup upped their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group raised their target price on EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Capital One Financial initiated coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.63.

EnLink Midstream Company 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.