EnLink Midstream (NYSE:ENLC) CAO Susan J. Mcaden sold 15,023 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $16.90, for a total transaction of $253,888.70. Following the completion of the sale, the chief accounting officer now owns 22,944 shares of the company’s stock, valued at approximately $387,753.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
NYSE ENLC opened at $16.65 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 104.06 and a beta of 2.47. EnLink Midstream has a one year low of $13.80 and a one year high of $20.00.
EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, February 20th. The pipeline company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.20). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.44 billion. EnLink Midstream had a net margin of 3.68% and a return on equity of 0.62%. equities research analysts expect that EnLink Midstream will post 0.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th were given a dividend of $0.263 per share. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, April 27th. This represents a $1.05 dividend on an annualized basis and a yield of 6.32%. EnLink Midstream’s dividend payout ratio (DPR) is -2,100.00%.
ENLC has been the subject of a number of research analyst reports. Seaport Global Securities set a $14.00 price objective on shares of EnLink Midstream and gave the company a “hold” rating in a report on Monday, April 9th. UBS decreased their price objective on shares of EnLink Midstream from $20.00 to $19.00 and set a “buy” rating for the company in a report on Friday, March 2nd. Zacks Investment Research lowered shares of EnLink Midstream from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. B. Riley initiated coverage on shares of EnLink Midstream in a report on Friday, January 26th. They set a “neutral” rating and a $18.00 price objective for the company. Finally, JPMorgan Chase lowered shares of EnLink Midstream from a “neutral” rating to an “underweight” rating and set a $17.00 price objective for the company. in a report on Wednesday, April 4th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.29.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. increased its position in EnLink Midstream by 3.7% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 4,328,126 shares of the pipeline company’s stock valued at $63,407,000 after purchasing an additional 153,446 shares during the period. Dimensional Fund Advisors LP increased its position in EnLink Midstream by 13.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,173,164 shares of the pipeline company’s stock valued at $46,487,000 after purchasing an additional 378,910 shares during the period. Principal Financial Group Inc. increased its position in EnLink Midstream by 28.8% during the 1st quarter. Principal Financial Group Inc. now owns 2,967,940 shares of the pipeline company’s stock valued at $43,481,000 after purchasing an additional 662,795 shares during the period. Cushing Asset Management LP increased its position in EnLink Midstream by 8.5% during the 4th quarter. Cushing Asset Management LP now owns 2,049,495 shares of the pipeline company’s stock valued at $36,072,000 after purchasing an additional 161,196 shares during the period. Finally, HBK Investments L P increased its position in EnLink Midstream by 4.0% during the 4th quarter. HBK Investments L P now owns 1,872,326 shares of the pipeline company’s stock valued at $32,953,000 after purchasing an additional 72,270 shares during the period. 33.98% of the stock is currently owned by institutional investors and hedge funds.
About EnLink Midstream
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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