Keybank National Association OH trimmed its stake in EnLink Midstream LLC (NYSE:ENLC) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,695 shares of the pipeline company’s stock after selling 3,215 shares during the period. Keybank National Association OH’s holdings in EnLink Midstream were worth $702,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of EnLink Midstream by 110.1% in the 1st quarter. Russell Investments Group Ltd. now owns 7,934 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 4,157 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of EnLink Midstream by 365.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 8,161 shares of the pipeline company’s stock worth $120,000 after purchasing an additional 6,406 shares in the last quarter. Linscomb & Williams Inc. purchased a new stake in shares of EnLink Midstream in the 2nd quarter worth $171,000. Koch Industries Inc. purchased a new stake in shares of EnLink Midstream in the 1st quarter worth $184,000. Finally, Nisa Investment Advisors LLC bought a new position in EnLink Midstream in the 2nd quarter worth $247,000. Hedge funds and other institutional investors own 32.40% of the company’s stock.

Shares of NYSE ENLC opened at $16.55 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $3.02 billion, a PE ratio of -331.00 and a beta of 2.59. EnLink Midstream LLC has a 12-month low of $13.80 and a 12-month high of $20.00.

EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, July 31st. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.05). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.61 billion. EnLink Midstream had a net margin of 3.73% and a return on equity of 0.86%. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. sell-side analysts expect that EnLink Midstream LLC will post 0.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Monday, July 30th were given a dividend of $0.267 per share. This represents a $1.07 annualized dividend and a dividend yield of 6.45%. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, July 27th. EnLink Midstream’s dividend payout ratio is currently -2,140.00%.

Several brokerages recently weighed in on ENLC. Raymond James reaffirmed a “buy” rating and issued a $19.00 target price on shares of EnLink Midstream in a report on Friday, August 17th. Barclays upped their target price on shares of EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday. ValuEngine downgraded shares of EnLink Midstream from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada raised shares of EnLink Midstream from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from $22.00 to $20.00 in a report on Thursday, May 3rd. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $18.00 target price on shares of EnLink Midstream in a report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. EnLink Midstream has an average rating of “Hold” and a consensus target price of $17.86.

In other news, EVP Alaina K. Brooks sold 48,442 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $17.36, for a total transaction of $840,953.12. Following the sale, the executive vice president now directly owns 78,190 shares in the company, valued at approximately $1,357,378.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.24% of the stock is currently owned by corporate insiders.

EnLink Midstream 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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Institutional Ownership by Quarter for EnLink Midstream (NYSE:ENLC)

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