EnLink Midstream, LLC (NYSE:ENLC) Shares Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 32.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,324,324 shares of the pipeline company's stock after purchasing an additional 812,767 shares during the quarter. EnLink Midstream makes up approximately 3.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 14th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.72% of EnLink Midstream worth $48,236,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. ORG Partners LLC purchased a new position in shares of EnLink Midstream during the second quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. purchased a new position in shares of EnLink Midstream during the second quarter valued at approximately $56,000. Sunbelt Securities Inc. lifted its stake in shares of EnLink Midstream by 24.2% during the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company's stock valued at $94,000 after buying an additional 1,343 shares during the period. SG Americas Securities LLC purchased a new position in shares of EnLink Midstream during the first quarter valued at approximately $105,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company's stock valued at $106,000 after buying an additional 853 shares during the period. 45.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENLC has been the topic of a number of recent analyst reports. 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 research note on Friday, August 30th. StockNews.com raised shares of EnLink Midstream from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. Stifel Nicolaus downgraded shares of EnLink Midstream from a "buy" rating to a "hold" rating and set a $15.00 price target on the stock. in a research note on Friday, August 30th. Capital One Financial reaffirmed an "equal weight" rating and set a $16.00 price target on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Finally, Tudor Pickering raised shares of EnLink Midstream to a "strong-buy" rating in a research note on Friday, August 16th. Seven 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $15.44.

Insider Transactions at EnLink Midstream

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream 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 filing with the SEC, which can be accessed through this link. Insiders own 0.84% of the company's stock.

EnLink Midstream Stock Up 0.6 %

ENLC stock traded up $0.08 during mid-day trading on Tuesday, hitting $14.74. 539,451 shares of the company were exchanged, compared to its average volume of 2,031,940. The company has a market capitalization of $6.80 billion, a PE ratio of 48.88 and a beta of 2.40. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. EnLink Midstream, LLC has a twelve month low of $11.53 and a twelve month high of $14.84. The firm has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $13.67.

EnLink Midstream (NYSE:ENLC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the business earned $0.12 earnings per share. EnLink Midstream's revenue was up 1.4% on a year-over-year basis. On average, research analysts forecast that EnLink Midstream, LLC will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a $0.1325 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.60%. EnLink Midstream's payout ratio is currently 176.67%.

EnLink Midstream Profile

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.