EnLink Midstream, LLC (NYSE:ENLC) Shares Bought by NBW Capital LLC

NBW Capital LLC boosted its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 5.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,098,404 shares of the pipeline company’s stock after buying an additional 59,122 shares during the quarter. EnLink Midstream accounts for 3.1% of NBW Capital LLC’s investment portfolio, making the stock its 4th biggest position. NBW Capital LLC’s holdings in EnLink Midstream were worth $14,982,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ENLC. Kayne Anderson Capital Advisors LP raised its stake in EnLink Midstream by 6.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,860,400 shares of the pipeline company’s stock valued at $22,622,000 after buying an additional 111,300 shares during the period. Clearbridge Investments LLC bought a new stake in EnLink Midstream in the first quarter valued at approximately $873,000. Hennessy Advisors Inc. raised its stake in EnLink Midstream by 13.3% in the first quarter. Hennessy Advisors Inc. now owns 2,116,600 shares of the pipeline company’s stock valued at $28,870,000 after buying an additional 248,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in EnLink Midstream by 240.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,500 shares of the pipeline company’s stock valued at $4,530,000 after buying an additional 263,100 shares during the period. Finally, Miller Howard Investments Inc. NY raised its stake in EnLink Midstream by 3.3% in the first quarter. Miller Howard Investments Inc. NY now owns 2,160,476 shares of the pipeline company’s stock valued at $29,469,000 after buying an additional 68,877 shares during the period. 45.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on ENLC shares. Citigroup upped their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company upgraded EnLink Midstream from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $13.00 to $17.00 in a research note on Monday, July 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, EnLink Midstream currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.33.

EnLink Midstream Price Performance

NYSE:ENLC traded down $0.47 during trading hours on Friday, reaching $12.99. 2,382,522 shares of the company were exchanged, compared to its average volume of 1,762,978. The company has a market capitalization of $5.86 billion, a P/E ratio of 37.12 and a beta of 2.43. EnLink Midstream, LLC has a 1-year low of $11.44 and a 1-year high of $14.38. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day moving average of $13.46 and a 200 day moving average of $13.09.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. Research analysts forecast that EnLink Midstream, LLC will post 0.65 EPS for the current year.

EnLink Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, August 2nd will be given a dividend of $0.1325 per share. The ex-dividend date is Friday, August 2nd. This represents a $0.53 dividend on an annualized basis and a yield of 4.08%. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio is currently 151.43%.

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.