EnLink Midstream, LLC (NYSE:ENLC) Stake Lowered by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. trimmed its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,652,480 shares of the pipeline company’s stock after selling 9,909 shares during the period. Duff & Phelps Investment Management Co. owned about 0.36% of EnLink Midstream worth $20,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of EnLink Midstream by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 78,636 shares of the pipeline company’s stock worth $956,000 after purchasing an additional 7,962 shares in the last quarter. Headlands Technologies LLC acquired a new stake in EnLink Midstream in the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC grew its position in EnLink Midstream by 47.2% in the fourth quarter. Lindbrook Capital LLC now owns 38,871 shares of the pipeline company’s stock worth $473,000 after acquiring an additional 12,467 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of EnLink Midstream by 4.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,490 shares of the pipeline company’s stock worth $650,000 after purchasing an additional 2,307 shares during the last quarter. Finally, Segment Wealth Management LLC raised its holdings in shares of EnLink Midstream by 5.3% during the 4th quarter. Segment Wealth Management LLC now owns 120,542 shares of the pipeline company’s stock valued at $1,466,000 after purchasing an additional 6,053 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Wall Street Analyst Weigh In

ENLC has been the subject of a number of recent research reports. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. decreased their price objective 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. 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 price objective for the company. Citigroup upped their price objective on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, UBS Group upped their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, EnLink Midstream presently has an average rating of “Moderate Buy” and a consensus price target of $14.29.

EnLink Midstream Stock Performance

ENLC stock traded down $0.27 during mid-day trading on Tuesday, reaching $13.83. 606,670 shares of the stock traded hands, compared to its average volume of 1,888,665. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70. EnLink Midstream, LLC has a 52 week low of $8.45 and a 52 week high of $14.18. The business has a 50-day moving average of $13.18 and a two-hundred day moving average of $12.69. The firm has a market capitalization of $6.27 billion, a PE ratio of 32.05 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. As a group, equities analysts predict that EnLink Midstream, LLC will post 0.6 EPS for the current fiscal year.

EnLink Midstream Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be given a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream’s dividend payout ratio is currently 120.46%.

Insider Activity

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

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.