First Dallas Securities Inc. trimmed its holdings in EnLink Midstream (NYSE:ENLC) by 15.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 125,792 shares of the pipeline company’s stock after selling 22,643 shares during the quarter. EnLink Midstream comprises approximately 1.2% of First Dallas Securities Inc.’s portfolio, making the stock its 25th biggest position. First Dallas Securities Inc. owned about 0.07% of EnLink Midstream worth $1,843,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Fund Management S.A. bought a new stake in EnLink Midstream in the 4th quarter worth about $317,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in EnLink Midstream by 32.9% in the 4th 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 buying an additional 37,900 shares in the last quarter. Cypress Wealth Advisors LLC bought a new stake in EnLink Midstream in the 4th quarter worth about $3,499,000. Engineers Gate Manager LP bought a new stake in EnLink Midstream in the 4th quarter worth about $214,000. Finally, Raymond James & Associates increased its holdings in EnLink Midstream by 5.0% in the 4th quarter. Raymond James & Associates now owns 404,200 shares of the pipeline company’s stock worth $7,114,000 after buying an additional 19,141 shares in the last quarter. Institutional investors own 33.94% of the company’s stock.
A number of research firms have issued reports on ENLC. ValuEngine downgraded EnLink Midstream from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Robert W. Baird set a $16.00 price target on EnLink Midstream and gave the company a “hold” rating in a research note on Tuesday, February 27th. Bank of America cut their price target on EnLink Midstream from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada upgraded EnLink Midstream from a “sector perform” rating to an “outperform” rating and cut their price target for the company from $22.00 to $20.00 in a research note on Thursday, May 3rd. Finally, Zacks Investment Research upgraded EnLink Midstream from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.29.
Shares of NYSE:ENLC opened at $16.10 on Wednesday. The company has a market cap of $2.94 billion, a P/E ratio of 101.56 and a beta of 2.47. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. EnLink Midstream has a 12-month low of $13.80 and a 12-month high of $20.00.
EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, February 20th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.20). The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.44 billion. EnLink Midstream had a net margin of 3.68% and a return on equity of 0.62%. sell-side analysts expect that EnLink Midstream will post 0.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be paid a dividend of $0.263 per share. The ex-dividend date is Friday, April 27th. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a dividend yield of 6.53%. EnLink Midstream’s payout ratio is -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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