Catalyst Capital Advisors LLC Has $30.35 Million Stock Position in EnLink Midstream, LLC (NYSE:ENLC)

Catalyst Capital Advisors LLC grew its stake in shares of EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 120.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,091,554 shares of the pipeline company's stock after purchasing an additional 1,141,254 shares during the period. EnLink Midstream comprises about 0.7% of Catalyst Capital Advisors LLC's holdings, making the stock its 24th biggest holding. Catalyst Capital Advisors LLC owned 0.45% of EnLink Midstream worth $30,348,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Clearbridge Investments LLC purchased a new stake in EnLink Midstream in the 1st quarter worth about $873,000. Janus Henderson Group PLC purchased a new stake in EnLink Midstream in the 1st quarter worth about $1,453,000. Miller Howard Investments Inc. NY lifted its stake in EnLink Midstream by 4.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company's stock worth $31,016,000 after acquiring an additional 93,587 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in EnLink Midstream by 22.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company's stock worth $30,629,000 after acquiring an additional 416,424 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of EnLink Midstream by 468.8% during the 2nd quarter. Mackenzie Financial Corp now owns 102,368 shares of the pipeline company's stock worth $1,409,000 after purchasing an additional 84,372 shares in the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on EnLink Midstream from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 10th. UBS Group downgraded EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 price target for the company. in a research note on Monday, September 30th. Stifel Nicolaus downgraded EnLink Midstream from a "buy" rating to a "hold" rating and set a $15.00 price target for the company. in a research note on Friday, August 30th. Wells Fargo & Company downgraded 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. Finally, Capital One Financial reissued an "equal weight" rating and set a $16.00 price objective on shares of EnLink Midstream in a report on Tuesday, September 3rd. Eight equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $15.40.

EnLink Midstream Stock Performance

EnLink Midstream stock traded up $0.38 during mid-day trading on Tuesday, reaching $15.32. The company had a trading volume of 3,032,352 shares, compared to its average volume of 2,019,305. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. EnLink Midstream, LLC has a 52 week low of $11.53 and a 52 week high of $15.32. The company has a 50 day moving average of $14.58 and a 200-day moving average of $13.76. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 51.05 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the company earned $0.12 earnings per share. EnLink Midstream's revenue for the quarter was up 1.4% on a year-over-year basis. On average, sell-side analysts expect that EnLink Midstream, LLC will post 0.58 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, November 1st. EnLink Midstream's payout ratio is 176.67%.

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 transaction of $2,985,077,219.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by insiders.

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.