Infrastructure Capital Advisors LLC lifted its position in EnLink Midstream (NYSE:ENLC) by 10.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 525,769 shares of the pipeline company’s stock after buying an additional 50,408 shares during the quarter. EnLink Midstream comprises approximately 0.8% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 25th biggest position. Infrastructure Capital Advisors LLC owned approximately 0.29% of EnLink Midstream worth $7,703,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Capital Fund Management S.A. bought a new position in EnLink Midstream during the fourth quarter worth $317,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in EnLink Midstream by 32.9% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 153,200 shares of the pipeline company’s stock worth $2,696,000 after purchasing an additional 37,900 shares during the period. Cypress Wealth Advisors LLC bought a new position in EnLink Midstream during the fourth quarter worth $3,499,000. Engineers Gate Manager LP bought a new position in EnLink Midstream during the fourth quarter worth $214,000. Finally, Raymond James & Associates boosted its position in EnLink Midstream by 5.0% during the fourth quarter. Raymond James & Associates now owns 404,200 shares of the pipeline company’s stock worth $7,114,000 after purchasing an additional 19,141 shares during the period. 34.05% of the stock is owned by institutional investors and hedge funds.
ENLC has been the subject of a number of research analyst reports. UBS Group reduced their price objective on shares of EnLink Midstream from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 2nd. Barclays reduced their price objective on shares of EnLink Midstream from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 17th. Zacks Investment Research raised shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Robert W. Baird set a $18.00 price objective on shares of EnLink Midstream and gave the stock a “hold” rating in a research report on Monday, February 12th. Finally, Seaport Global Securities set a $17.00 price objective on shares of EnLink Midstream and gave the stock a “hold” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.50.
ENLC opened at $17.15 on Thursday. EnLink Midstream has a fifty-two week low of $13.80 and a fifty-two week high of $20.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $3.22 billion, a PE ratio of -343.00 and a beta of 2.51.
EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, May 1st. The pipeline company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). EnLink Midstream had a return on equity of 0.62% and a net margin of 3.68%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. sell-side analysts predict that EnLink Midstream will post 0.78 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th were issued a dividend of $0.263 per share. The ex-dividend date was Friday, April 27th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 6.13%. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. EnLink Midstream’s dividend payout ratio (DPR) is currently -2,100.00%.
EnLink Midstream Company 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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