Eagle Global Advisors LLC increased its stake in EnLink Midstream LLC (NYSE:ENLC) by 158.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,534,879 shares of the pipeline company’s stock after buying an additional 2,166,379 shares during the period. EnLink Midstream comprises 1.9% of Eagle Global Advisors LLC’s portfolio, making the stock its 15th largest position. Eagle Global Advisors LLC owned approximately 1.96% of EnLink Midstream worth $68,577,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in ENLC. Two Sigma Investments LP increased its position in EnLink Midstream by 738.6% in the fourth quarter. Two Sigma Investments LP now owns 98,859 shares of the pipeline company’s stock valued at $1,883,000 after buying an additional 87,070 shares during the period. Advisory Research Inc. increased its position in EnLink Midstream by 12.1% in the fourth quarter. Advisory Research Inc. now owns 4,238,328 shares of the pipeline company’s stock valued at $80,740,000 after buying an additional 455,922 shares during the period. Renaissance Technologies LLC increased its position in EnLink Midstream by 25.1% in the fourth quarter. Renaissance Technologies LLC now owns 186,532 shares of the pipeline company’s stock valued at $3,553,000 after buying an additional 37,445 shares during the period. Principal Financial Group Inc. increased its position in EnLink Midstream by 19.7% in the third quarter. Principal Financial Group Inc. now owns 1,414,482 shares of the pipeline company’s stock valued at $23,693,000 after buying an additional 232,937 shares during the period. Finally, BlackRock Inc. increased its position in EnLink Midstream by 13.1% in the third quarter. BlackRock Inc. now owns 68,081 shares of the pipeline company’s stock valued at $1,140,000 after buying an additional 7,900 shares during the period. 29.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EnLink Midstream LLC (NYSE:ENLC) traded up 1.97% during midday trading on Friday, reaching $18.10. 338,967 shares of the company traded hands. The firm’s market capitalization is $3.27 billion. EnLink Midstream LLC has a 1-year low of $14.39 and a 1-year high of $20.45. The stock has a 50 day moving average price of $18.66 and a 200 day moving average price of $18.48.
EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, February 14th. The pipeline company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by $0.08. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.16 billion. EnLink Midstream had a negative net margin of 15.93% and a positive return on equity of 5.66%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Analysts expect that EnLink Midstream LLC will post $0.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Tuesday, May 2nd were issued a $0.255 dividend. The ex-dividend date was Friday, April 28th. This represents a $1.02 dividend on an annualized basis and a yield of 5.75%. EnLink Midstream’s payout ratio is currently -27.35%.
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Several equities analysts have recently commented on ENLC shares. Zacks Investment Research downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Thursday, January 26th. Credit Suisse Group AG boosted their target price on shares of EnLink Midstream from $18.00 to $19.00 and gave the stock an “underperform” rating in a report on Friday, April 7th. Royal Bank of Canada reissued a “hold” rating and issued a $21.00 target price on shares of EnLink Midstream in a report on Friday, April 21st. Janney Montgomery Scott started coverage on shares of EnLink Midstream in a report on Friday, March 10th. They issued a “neutral” rating and a $21.00 target price on the stock. Finally, Guggenheim started coverage on shares of EnLink Midstream in a report on Monday, April 17th. They issued a “neutral” rating and a $18.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.00.
About EnLink Midstream
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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