Van ECK Associates Corp Purchases 63,997 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Van ECK Associates Corp boosted its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 100.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 127,462 shares of the pipeline company's stock after acquiring an additional 63,997 shares during the quarter. Van ECK Associates Corp's holdings in EnLink Midstream were worth $1,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its position in 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 purchasing an additional 853 shares during the last quarter. First Dallas Securities Inc. increased its holdings in EnLink Midstream by 0.6% in the second quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company's stock worth $2,182,000 after buying an additional 960 shares during the last quarter. Callahan Advisors LLC raised its position in EnLink Midstream by 8.7% during the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company's stock valued at $172,000 after acquiring an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in EnLink Midstream by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company's stock valued at $191,000 after acquiring an additional 1,151 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in EnLink Midstream by 21.9% in the second 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. Hedge funds and other institutional investors own 45.87% of the company's stock.

Insider Activity

In other EnLink Midstream 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is owned by company insiders.

EnLink Midstream Stock Performance

ENLC traded up $0.25 on Monday, hitting $15.47. 1,256,647 shares of the stock traded hands, compared to its average volume of 2,033,470. The business has a fifty day moving average price of $14.66 and a two-hundred day moving average price of $13.80. 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 52 week low of $11.53 and a 52 week high of $15.67. The firm has a market capitalization of $7.14 billion, a PE ratio of 72.43 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS 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 8.82%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business's revenue for the quarter was down 7.9% compared to the same quarter last year. On average, research analysts predict that EnLink Midstream, LLC will post 0.58 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

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 3.43%. The ex-dividend date is Friday, November 1st. EnLink Midstream's payout ratio is 252.38%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. 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 report on Friday, August 30th. Mizuho reaffirmed a "neutral" rating and issued a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Raymond James lowered EnLink Midstream from an "outperform" rating to a "market perform" rating in a report on Friday. Tudor Pickering upgraded EnLink Midstream to a "strong-buy" rating in a report on Friday, August 16th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, three have issued 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 an average price target of $15.40.

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.