EnLink Midstream, LLC (NYSE:ENLC) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in EnLink Midstream, LLC (NYSE:ENLC) by 240.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 372,500 shares of the pipeline company’s stock after acquiring an additional 263,100 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in EnLink Midstream were worth $4,530,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kayne Anderson Capital Advisors LP grew its holdings in EnLink Midstream by 6.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 1,860,400 shares of the pipeline company’s stock valued at $22,622,000 after purchasing an additional 111,300 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of EnLink Midstream by 11.0% during the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after acquiring an additional 4,200,733 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of EnLink Midstream in the third quarter worth about $3,246,000. TCG Advisory Services LLC acquired a new position in shares of EnLink Midstream in the fourth quarter worth about $2,991,000. Finally, Goldman Sachs Group Inc. boosted its holdings in EnLink Midstream by 1.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after purchasing an additional 186,801 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ENLC shares. Citigroup lifted their price objective on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Capital One Financial started coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price target for the company. StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

EnLink Midstream Stock Performance

ENLC stock opened at $13.10 on Wednesday. The stock’s 50 day simple moving average is $13.27 and its 200 day simple moving average is $12.79. EnLink Midstream, LLC has a 12-month low of $9.52 and a 12-month high of $14.18. The firm has a market cap of $5.91 billion, a P/E ratio of 37.43 and a beta of 2.36. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. As a group, equities research analysts predict that EnLink Midstream, LLC will post 0.62 EPS for the current year.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th were issued a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is presently 151.43%.

EnLink Midstream Company 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.