Public Employees Retirement Association of Colorado Decreases Stake in EnLink Midstream, LLC (NYSE:ENLC)

Public Employees Retirement Association of Colorado decreased its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,384 shares of the pipeline company’s stock after selling 2,724 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in EnLink Midstream were worth $404,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. ORG Partners LLC purchased a new stake in EnLink Midstream during the 2nd quarter valued at about $28,000. Sunbelt Securities Inc. grew its position in shares of EnLink Midstream by 24.2% in the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 1,343 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of EnLink Midstream in the first quarter valued at approximately $105,000. First Horizon Advisors Inc. lifted 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 worth $106,000 after buying an additional 853 shares in the last quarter. Finally, Callahan Advisors LLC lifted 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 worth $172,000 after buying an additional 1,000 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENLC has been the subject of a number of recent research reports. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, August 29th. Morgan Stanley cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a research note on Monday, September 16th. Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Finally, Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.33.

EnLink Midstream Price Performance

ENLC opened at $14.45 on Friday. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 41.29 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. The stock’s 50-day moving average price is $13.70 and its 200 day moving average price is $13.49. EnLink Midstream, LLC has a 12-month low of $11.44 and a 12-month high of $14.80.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) 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 business 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 company posted $0.12 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that EnLink Midstream, LLC will post 0.59 earnings per share for the current year.

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were given a dividend of $0.1325 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.67%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio is currently 151.43%.

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.