First Dallas Securities Inc. Has $1.09 Million Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

First Dallas Securities Inc. cut its position in EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 52.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,373 shares of the pipeline company's stock after selling 83,225 shares during the quarter. First Dallas Securities Inc.'s holdings in EnLink Midstream were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ENLC. ORG Partners LLC bought a new position in EnLink Midstream during the 2nd quarter valued at $28,000. Newbridge Financial Services Group Inc. bought a new position in EnLink Midstream during the 2nd quarter valued at $56,000. Icon Wealth Advisors LLC bought a new position in EnLink Midstream during the 3rd quarter valued at $107,000. First Horizon Advisors Inc. boosted its stake in EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company's stock valued at $106,000 after acquiring an additional 853 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in EnLink Midstream by 21.9% during the 2nd 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 during the last quarter. 45.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENLC has been the topic of a number of recent research reports. US Capital Advisors downgraded shares of 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 objective on the stock. in a report on Monday, September 16th. Capital One Financial reaffirmed an "equal weight" rating and issued a $16.00 price objective on shares of EnLink Midstream in a report on Tuesday, September 3rd. Wells Fargo & Company cut shares of EnLink Midstream from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $16.00 to $15.00 in a report on Friday, August 30th. Finally, Stifel Nicolaus cut shares of EnLink Midstream from a "buy" rating to a "hold" rating and set a $15.00 target price on the stock. in a research note on Friday, August 30th. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, EnLink Midstream currently has a consensus rating of "Hold" and a consensus price target of $15.40.

EnLink Midstream Stock Down 0.9 %

ENLC traded down $0.13 on Tuesday, reaching $14.67. 4,541,334 shares of the company traded hands, compared to its average volume of 2,147,772. The stock's 50 day moving average price is $15.11 and its 200-day moving average price is $14.12. EnLink Midstream, LLC has a 52-week low of $11.53 and a 52-week high of $16.40. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 69.86 and a beta of 2.44. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

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

EnLink Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream's payout ratio is 252.38%.

Insider Transactions at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.84% of the stock is owned by insiders.

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.