Inscription Capital LLC Invests $154,000 in EnLink Midstream, LLC (NYSE:ENLC)

Inscription Capital LLC bought a new stake in shares of EnLink Midstream, LLC (NYSE:ENLC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,644 shares of the pipeline company’s stock, valued at approximately $154,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. increased its position in shares of EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 853 shares during the period. First Dallas Securities Inc. grew its stake in shares of 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 purchasing an additional 960 shares during the last quarter. Callahan Advisors LLC increased its holdings in EnLink Midstream by 8.7% during the 2nd quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after purchasing an additional 1,000 shares during the period. Bank of New York Mellon Corp increased its holdings in EnLink Midstream by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 1,151 shares during the period. Finally, Sunbelt Securities Inc. raised its position in EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 1,511 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Capital One Financial reissued an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a research report on Tuesday, September 3rd. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, August 29th. Finally, Morgan Stanley lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EnLink Midstream presently has a consensus rating of “Hold” and a consensus target price of $15.44.

Insider Transactions at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.84% of the company’s stock.

EnLink Midstream Stock Up 1.0 %

ENLC stock opened at $14.86 on Wednesday. EnLink Midstream, LLC has a fifty-two week low of $11.53 and a fifty-two week high of $14.87. The business’s 50 day moving average price is $14.41 and its two-hundred day moving average price is $13.71. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 49.53 and a beta of 2.40.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 EPS 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 company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts forecast that EnLink Midstream, LLC will post 0.58 earnings per share for the current fiscal year.

EnLink Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a $0.1325 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.57%. EnLink Midstream’s dividend payout ratio is currently 176.67%.

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.