Sei Investments Co. Takes Position in EnLink Midstream, LLC (NYSE:ENLC)

Sei Investments Co. bought a new stake in shares of EnLink Midstream, LLC (NYSE:ENLC) in the second quarter, Holdings Channel.com reports. The institutional investor bought 26,407 shares of the pipeline company’s stock, valued at approximately $363,000.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in EnLink Midstream by 1.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after buying an additional 186,801 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of EnLink Midstream by 240.5% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,500 shares of the pipeline company’s stock worth $4,530,000 after acquiring an additional 263,100 shares during the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of EnLink Midstream by 3.3% during the first quarter. Miller Howard Investments Inc. NY now owns 2,160,476 shares of the pipeline company’s stock valued at $29,469,000 after acquiring an additional 68,877 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of EnLink Midstream in the 1st quarter valued at approximately $690,000. Finally, Davis Investment Partners LLC boosted its stake in EnLink Midstream by 21.6% in the 1st quarter. Davis Investment Partners LLC now owns 20,124 shares of the pipeline company’s stock worth $278,000 after purchasing an additional 3,579 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. 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 report on Monday, September 16th. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Friday, August 30th. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.44.

EnLink Midstream Stock Performance

Shares of ENLC stock opened at $14.60 on Friday. The firm has a 50 day moving average of $13.84 and a two-hundred day moving average of $13.61. The stock has a market capitalization of $6.59 billion, a PE ratio of 41.51 and a beta of 2.40. The company has a quick ratio of 0.65, a current 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 $14.80.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts predict that EnLink Midstream, LLC will post 0.59 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were issued 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 yield of 3.63%. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. 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.