EnLink Midstream, LLC (NYSE:ENLC) is Chickasaw Capital Management LLC's 7th Largest Position

Chickasaw Capital Management LLC cut its position in EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,187,059 shares of the pipeline company's stock after selling 2,108,528 shares during the period. EnLink Midstream comprises 6.4% of Chickasaw Capital Management LLC's portfolio, making the stock its 7th largest holding. Chickasaw Capital Management LLC owned approximately 2.45% of EnLink Midstream worth $158,297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in EnLink Midstream by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company's stock valued at $191,000 after buying an additional 1,151 shares in the last quarter. Citigroup Inc. boosted its position in shares of EnLink Midstream by 0.6% during the third quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company's stock worth $3,885,000 after acquiring an additional 1,473 shares during the last quarter. Sunbelt Securities Inc. grew its stake in EnLink Midstream by 21.9% during the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company's stock valued at $116,000 after acquiring an additional 1,511 shares in the last quarter. Tidal Investments LLC increased its holdings in EnLink Midstream by 9.7% in the 3rd quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company's stock valued at $266,000 after acquiring an additional 1,623 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in EnLink Midstream by 13.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,090 shares of the pipeline company's stock worth $233,000 after purchasing an additional 1,958 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors.

EnLink Midstream Trading Up 0.1 %

Shares of ENLC stock traded up $0.02 on Tuesday, reaching $14.31. 1,402,324 shares of the company's stock were exchanged, compared to its average volume of 1,285,791. The company's fifty day simple moving average is $14.96 and its 200 day simple moving average is $14.31. The stock has a market capitalization of $6.54 billion, a PE ratio of 68.14 and a beta of 2.43. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. EnLink Midstream, LLC has a 52 week low of $11.53 and a 52 week high of $16.40.

EnLink Midstream (NYSE:ENLC - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.16). The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm's revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, analysts forecast that EnLink Midstream, LLC will post 0.51 EPS for the current year.

EnLink Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, November 1st. EnLink Midstream's dividend payout ratio (DPR) is presently 252.38%.

Analysts Set New Price Targets

A number of research firms recently commented on ENLC. Royal Bank of Canada reiterated a "sector perform" rating and issued a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, November 21st. US Capital Advisors downgraded EnLink Midstream from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Morgan Stanley cut shares of EnLink Midstream from an "overweight" rating to an "equal weight" rating and set a $16.00 price target on the stock. in a research report on Monday, September 16th. Raymond James downgraded shares of EnLink Midstream from an "outperform" rating to a "market perform" rating in a report on Friday, November 8th. Finally, Mizuho reaffirmed a "neutral" rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.40.

Insider Activity

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.84% of the company's stock.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It 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.