Verition Fund Management LLC Sells 102,500 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Verition Fund Management LLC trimmed its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 77.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,179 shares of the pipeline company’s stock after selling 102,500 shares during the period. Verition Fund Management LLC’s holdings in EnLink Midstream were worth $438,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Comerica Bank raised its stake in EnLink Midstream by 16.2% during the first quarter. Comerica Bank now owns 14,793 shares of the pipeline company’s stock valued at $202,000 after buying an additional 2,063 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of EnLink Midstream by 14.9% in the first quarter. Cetera Advisors LLC now owns 15,589 shares of the pipeline company’s stock worth $213,000 after acquiring an additional 2,025 shares during the period. SG Americas Securities LLC lifted its position in shares of EnLink Midstream by 63.1% in the second quarter. SG Americas Securities LLC now owns 12,526 shares of the pipeline company’s stock worth $172,000 after buying an additional 4,846 shares in the last quarter. ORG Partners LLC purchased a new stake in EnLink Midstream during the second quarter valued at approximately $28,000. Finally, Zhang Financial LLC purchased a new stake in shares of EnLink Midstream in the second quarter worth approximately $313,000. 45.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENLC has been the topic of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, November 21st. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Mizuho reaffirmed a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, October 31st. Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 target price on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Finally, Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.40.

Insider Buying and Selling

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by company insiders.

EnLink Midstream Stock Down 0.4 %

EnLink Midstream stock opened at $14.69 on Friday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 70.10 and a beta of 2.44. EnLink Midstream, LLC has a 1-year low of $11.53 and a 1-year high of $16.40. The business has a fifty day moving average price of $15.12 and a 200-day moving average price of $14.13.

EnLink Midstream (NYSE:ENLC) last issued 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). The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s revenue was down 7.9% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS. Equities research analysts forecast that EnLink Midstream, LLC will post 0.51 EPS for the current fiscal year.

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.1325 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a yield of 3.61%. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

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.