Two Sigma Advisers LP Raises Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Two Sigma Advisers LP lifted its stake in EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 57.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,181,021 shares of the pipeline company's stock after buying an additional 430,600 shares during the quarter. Two Sigma Advisers LP owned about 0.26% of EnLink Midstream worth $17,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company's stock worth $106,000 after buying an additional 853 shares during the period. First Dallas Securities Inc. grew its holdings in shares of EnLink Midstream by 0.6% in the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company's stock valued at $2,182,000 after purchasing an additional 960 shares in the last quarter. Callahan Advisors LLC grew its position in shares of EnLink Midstream by 8.7% during the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company's stock worth $172,000 after buying an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 worth $191,000 after buying an additional 1,151 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in EnLink Midstream by 0.6% during the 3rd quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company's stock worth $3,885,000 after purchasing an additional 1,473 shares during the period. Hedge funds and other institutional investors own 45.87% of the company's stock.

EnLink Midstream Stock Performance

Shares of NYSE:ENLC traded down $0.54 during trading on Monday, reaching $14.80. The stock had a trading volume of 3,502,350 shares, compared to its average volume of 2,137,673. The stock has a fifty day simple moving average of $15.11 and a two-hundred day simple moving average of $14.10. EnLink Midstream, LLC has a 52 week low of $11.53 and a 52 week high of $16.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.30. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 73.00 and a beta of 2.44.

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

EnLink Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, November 1st. EnLink Midstream's dividend payout ratio is 252.38%.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ENLC has been the topic of a number of research reports. Mizuho reissued a "neutral" rating and set a $15.00 target price on shares of EnLink Midstream in a report on Thursday, October 31st. UBS Group cut EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 price objective for the company. in a research report on Monday, September 30th. US Capital Advisors downgraded shares of EnLink Midstream from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Wells Fargo & Company cut shares of EnLink Midstream from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Finally, 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. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.40.

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.