EnLink Midstream, LLC (NYSE:ENLC) Shares Sold by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC decreased its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 42.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,350,532 shares of the pipeline company's stock after selling 982,131 shares during the period. EnLink Midstream makes up approximately 2.6% of Infrastructure Capital Advisors LLC's investment portfolio, making the stock its 12th largest holding. Infrastructure Capital Advisors LLC owned 0.29% of EnLink Midstream worth $19,596,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of EnLink Midstream by 121.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,559 shares of the pipeline company's stock valued at $6,770,000 after acquiring an additional 255,855 shares during the period. Icon Wealth Advisors LLC purchased a new stake in EnLink Midstream during the 3rd quarter valued at about $4,211,000. Citigroup Inc. increased its holdings in shares of EnLink Midstream by 0.6% in the third quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company's stock valued at $3,885,000 after purchasing an additional 1,473 shares during the period. Entropy Technologies LP raised its stake in shares of EnLink Midstream by 25.7% in the third quarter. Entropy Technologies LP now owns 57,691 shares of the pipeline company's stock worth $837,000 after purchasing an additional 11,800 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in shares of EnLink Midstream by 120.1% in the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company's stock worth $30,348,000 after purchasing an additional 1,141,254 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company's stock.

EnLink Midstream Price Performance

NYSE ENLC traded up $0.16 during trading hours on Friday, reaching $16.01. The company's stock had a trading volume of 1,240,039 shares, compared to its average volume of 2,131,471. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 76.24 and a beta of 2.41. The company's 50-day moving average is $15.02 and its two-hundred day moving average is $14.03. 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, LLC has a 1-year low of $11.53 and a 1-year high of $16.40.

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

EnLink Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, November 1st. EnLink Midstream's payout ratio is 252.38%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company downgraded shares of EnLink Midstream from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $16.00 to $15.00 in a report on Friday, August 30th. Mizuho reiterated a "neutral" rating and issued a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, October 31st. Royal Bank of Canada restated a "sector perform" rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, November 21st. Raymond James lowered shares of EnLink Midstream from an "outperform" rating to a "market perform" rating in a report on Friday, November 8th. Finally, Stifel Nicolaus lowered EnLink Midstream from a "buy" rating to a "hold" rating and set a $15.00 price objective for the company. in a research note on Friday, August 30th. Ten investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $15.40.

Insider Activity

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business's stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.