EnLink Midstream, LLC (NYSE:ENLC) Shares Sold by Swiss National Bank

Swiss National Bank decreased its stake in EnLink Midstream, LLC (NYSE:ENLC) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 440,523 shares of the pipeline company’s stock after selling 5,000 shares during the quarter. Swiss National Bank owned approximately 0.10% of EnLink Midstream worth $6,392,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Entropy Technologies LP raised its stake in EnLink Midstream by 25.7% in the 3rd quarter. Entropy Technologies LP now owns 57,691 shares of the pipeline company’s stock valued at $837,000 after purchasing an additional 11,800 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after buying an additional 1,141,254 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of EnLink Midstream by 100.8% during the third quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock worth $1,883,000 after buying an additional 63,997 shares in the last quarter. Inscription Capital LLC acquired a new stake in EnLink Midstream in the 3rd quarter valued at about $154,000. Finally, Insight Folios Inc lifted its position in EnLink Midstream by 16.3% during the third quarter. Insight Folios Inc now owns 25,077 shares of the pipeline company’s stock worth $364,000 after buying an additional 3,510 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Mizuho reaffirmed a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Wells Fargo & Company downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Finally, Morgan Stanley cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research report on Monday, September 16th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.40.

Insiders Place Their Bets

In related news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is owned by company insiders.

EnLink Midstream Stock Up 2.0 %

Shares of ENLC opened at $15.91 on Wednesday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $7.27 billion, a PE ratio of 75.76 and a beta of 2.41. The company’s 50-day simple moving average is $14.94 and its 200-day simple moving average is $13.98. EnLink Midstream, LLC has a 1 year low of $11.53 and a 1 year high of $16.40.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the company earned $0.10 earnings per share. EnLink Midstream’s quarterly revenue was down 7.9% compared to the same quarter last year. Analysts forecast that EnLink Midstream, LLC will post 0.55 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.33%. EnLink Midstream’s payout ratio is 252.38%.

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.