State of New Jersey Common Pension Fund D Has $2.14 Million Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

State of New Jersey Common Pension Fund D lowered its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 4.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 147,368 shares of the pipeline company’s stock after selling 7,302 shares during the period. State of New Jersey Common Pension Fund D’s holdings in EnLink Midstream were worth $2,138,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC bought a new position in EnLink Midstream in the 2nd quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of EnLink Midstream in the 2nd quarter valued at $56,000. SG Americas Securities LLC acquired a new stake in shares of EnLink Midstream during the 1st quarter valued at $105,000. First Horizon Advisors Inc. grew its position in EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 853 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 1,511 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors.

EnLink Midstream Price Performance

EnLink Midstream stock opened at $15.34 on Friday. The stock’s 50 day moving average price is $14.73 and its two-hundred day moving average price is $13.83. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 73.00 and a beta of 2.41. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.65 and a current ratio of 0.42. EnLink Midstream, LLC has a 52-week low of $11.53 and a 52-week high of $15.67.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, equities analysts predict that EnLink Midstream, LLC will post 0.58 earnings per share for the current year.

EnLink Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is currently 252.38%.

Wall Street Analysts Forecast Growth

ENLC has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, August 29th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $16.00 to $15.00 in a report on Friday, August 30th. Mizuho restated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. Finally, Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.40.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

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.