Infrastructure Capital Advisors LLC Sells 982,131 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Infrastructure Capital Advisors LLC decreased its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 42.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,350,532 shares of the pipeline company’s stock after selling 982,131 shares during the quarter. EnLink Midstream makes up approximately 2.6% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 12th largest holding. Infrastructure Capital Advisors LLC’s holdings in EnLink Midstream were worth $19,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ENLC. ORG Partners LLC acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $28,000. Newbridge Financial Services Group Inc. acquired a new position in shares of EnLink Midstream in the 2nd quarter valued at $56,000. First Horizon Advisors Inc. grew its holdings in shares of EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after buying an additional 853 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares during the period. Finally, Inscription Capital LLC acquired a new position in shares of EnLink Midstream in the 3rd quarter valued at $154,000. Institutional investors own 45.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ENLC. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, August 16th. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research note on Monday, September 16th. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. US Capital Advisors lowered shares of EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. Finally, Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Friday, August 30th. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, EnLink Midstream has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Trading Down 0.4 %

EnLink Midstream stock opened at $15.85 on Friday. The firm has a 50-day moving average of $14.99 and a 200-day moving average of $14.01. EnLink Midstream, LLC has a one year low of $11.53 and a one year high of $16.40. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 75.48 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s quarterly revenue was down 7.9% on a year-over-year basis. On average, equities analysts expect that EnLink Midstream, LLC will post 0.51 earnings per share for the current fiscal year.

EnLink Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.34%. EnLink Midstream’s payout ratio is 252.38%.

Insider Activity

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.84% of the stock is owned by insiders.

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.