Kayne Anderson Capital Advisors LP grew its position in shares of EnLink Midstream LLC (NYSE:ENLC) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,052,805 shares of the pipeline company’s stock after purchasing an additional 1,728,000 shares during the quarter. EnLink Midstream accounts for 1.4% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 20th largest position. Kayne Anderson Capital Advisors LP owned about 2.06% of EnLink Midstream worth $85,446,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its holdings in shares of EnLink Midstream by 16.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 6,463,312 shares of the pipeline company’s stock worth $65,216,000 after acquiring an additional 928,911 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of EnLink Midstream in the 2nd quarter worth $119,000. Cadence Capital Management LLC grew its holdings in shares of EnLink Midstream by 21.5% in the 2nd quarter. Cadence Capital Management LLC now owns 918,831 shares of the pipeline company’s stock worth $9,271,000 after acquiring an additional 162,373 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of EnLink Midstream by 4.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 23,543,728 shares of the pipeline company’s stock worth $237,556,000 after acquiring an additional 1,012,917 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of EnLink Midstream by 279.2% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 40,474 shares of the pipeline company’s stock worth $344,000 after acquiring an additional 29,800 shares during the last quarter. Institutional investors own 45.96% of the company’s stock.
ENLC has been the topic of a number of recent research reports. Barclays set a $8.00 target price on EnLink Midstream and gave the stock a “hold” rating in a report on Tuesday, October 15th. Jefferies Financial Group upgraded EnLink Midstream from a “hold” rating to a “buy” rating and decreased their target price for the stock from $13.00 to $12.00 in a report on Monday, July 15th. Mitsubishi UFJ Financial Group cut EnLink Midstream from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $10.00 in a report on Wednesday, August 7th. Mizuho initiated coverage on EnLink Midstream in a report on Thursday, July 25th. They issued a “neutral” rating and a $11.50 target price on the stock. Finally, Royal Bank of Canada restated a “buy” rating and issued a $12.00 target price on shares of EnLink Midstream in a report on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. EnLink Midstream presently has an average rating of “Hold” and a consensus price target of $10.59.
In other EnLink Midstream news, Chairman Barry E. Davis purchased 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, for a total transaction of $1,000,644.00. Following the completion of the acquisition, the chairman now owns 1,892,372 shares of the company’s stock, valued at approximately $13,852,163.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kyle D. Vann purchased 20,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $7.44 per share, for a total transaction of $148,800.00. Following the acquisition, the director now directly owns 99,907 shares of the company’s stock, valued at approximately $743,308.08. The disclosure for this purchase can be found here. Insiders own 1.45% of the company’s stock.
Shares of ENLC stock traded down $0.25 on Friday, reaching $5.70. 6,721,017 shares of the company’s stock traded hands, compared to its average volume of 2,908,871. EnLink Midstream LLC has a 12-month low of $5.35 and a 12-month high of $13.10. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $3.20 billion, a P/E ratio of -81.43, a price-to-earnings-growth ratio of 6.32 and a beta of 2.03. The business’s 50 day moving average price is $7.32 and its two-hundred day moving average price is $9.14.
EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). EnLink Midstream had a negative net margin of 3.21% and a negative return on equity of 0.16%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $0.04 EPS. The business’s quarterly revenue was down 33.4% compared to the same quarter last year. Research analysts predict that EnLink Midstream LLC will post 0.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.283 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 19.86%. EnLink Midstream’s dividend payout ratio is -1,614.29%.
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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