EnLink Midstream, LLC (NYSE:ENLC) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. cut its position in EnLink Midstream, LLC (NYSE:ENLC) by 31.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,143,138 shares of the pipeline company’s stock after selling 517,493 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in EnLink Midstream were worth $15,730,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. HITE Hedge Asset Management LLC lifted its stake in EnLink Midstream by 2,629.4% in the second quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock valued at $27,560,000 after buying an additional 1,929,551 shares during the last quarter. Hennessy Advisors Inc. grew its position in EnLink Midstream by 1,614.2% during the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock worth $22,721,000 after purchasing an additional 1,759,500 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in EnLink Midstream by 5.5% in the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after purchasing an additional 759,994 shares during the period. Millennium Management LLC increased its stake in EnLink Midstream by 1,433.6% in the second quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock valued at $6,850,000 after purchasing an additional 465,383 shares during the period. Finally, Westwood Holdings Group Inc. boosted its stake in shares of EnLink Midstream by 22.8% during the first quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock worth $30,629,000 after buying an additional 416,424 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $14.51 on Friday. The firm’s fifty day simple moving average is $13.71 and its 200-day simple moving average is $13.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The stock has a market cap of $6.55 billion, a PE ratio of 41.46 and a beta of 2.40. EnLink Midstream, LLC has a fifty-two week low of $11.44 and a fifty-two week high of $14.80.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share 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 company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Analysts expect that EnLink Midstream, LLC will post 0.59 earnings per share for the current fiscal year.

EnLink Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were paid a $0.1325 dividend. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, August 2nd. EnLink Midstream’s dividend payout ratio (DPR) is presently 151.43%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ENLC. Tudor, Pickering, Holt & Co. upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, August 16th. Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.33.

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.