MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of EnLink Midstream LLC (NYSE:ENLC) in the first quarter, HoldingsChannel.com reports. The firm acquired 14,116 shares of the pipeline company’s stock, valued at approximately $180,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Brinker Capital Inc. raised its stake in shares of EnLink Midstream by 6.3% during the 1st quarter. Brinker Capital Inc. now owns 35,385 shares of the pipeline company’s stock worth $452,000 after acquiring an additional 2,097 shares in the last quarter. Squar Milner Financial Services LLC grew its position in EnLink Midstream by 135.2% during the 1st quarter. Squar Milner Financial Services LLC now owns 3,658 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 2,103 shares during the last quarter. Two Sigma Advisers LP grew its position in EnLink Midstream by 5.8% during the 4th quarter. Two Sigma Advisers LP now owns 40,500 shares of the pipeline company’s stock worth $384,000 after purchasing an additional 2,220 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in EnLink Midstream during the 1st quarter worth approximately $31,000. Finally, Macquarie Group Ltd. grew its position in EnLink Midstream by 263.3% during the 4th quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 2,899 shares during the last quarter. Institutional investors own 24.35% of the company’s stock.
A number of equities research analysts have recently commented on ENLC shares. ValuEngine upgraded shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Stifel Nicolaus began coverage on shares of EnLink Midstream in a report on Friday, February 8th. They issued a “buy” rating and a $13.00 target price on the stock. Mitsubishi UFJ Financial Group raised shares of EnLink Midstream from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 20th. Finally, Jefferies Financial Group cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.17.
NYSE:ENLC opened at $11.50 on Wednesday. The firm has a market cap of $5.53 billion, a PE ratio of -164.29, a PEG ratio of 10.64 and a beta of 2.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.98 and a quick ratio of 0.98. EnLink Midstream LLC has a 52-week low of $8.90 and a 52-week high of $18.40.
EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.72 billion. EnLink Midstream had a negative return on equity of 0.09% and a negative net margin of 2.62%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 EPS. On average, analysts expect that EnLink Midstream LLC will post 0.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Monday, April 29th were paid a dividend of $0.279 per share. This represents a $1.12 annualized dividend and a dividend yield of 9.70%. The ex-dividend date was Friday, April 26th. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.28. EnLink Midstream’s payout ratio is -1,600.00%.
ILLEGAL ACTIVITY NOTICE: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.dispatchtribunal.com/2019/05/22/14116-shares-in-enlink-midstream-llc-enlc-purchased-by-merian-global-investors-uk-ltd.html.
EnLink Midstream Company Profile
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.
Recommended Story: What is a Tariff?
Want to see what other hedge funds are holding ENLC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EnLink Midstream LLC (NYSE:ENLC).
Receive News & Ratings for EnLink Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream and related companies with MarketBeat.com's FREE daily email newsletter.