Segment Wealth Management LLC Acquires 6,265 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Segment Wealth Management LLC lifted its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,869 shares of the pipeline company’s stock after acquiring an additional 6,265 shares during the quarter. Segment Wealth Management LLC’s holdings in EnLink Midstream were worth $2,088,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ENLC. ORG Partners LLC bought a new position in EnLink Midstream in the 2nd quarter valued at $28,000. Newbridge Financial Services Group Inc. purchased a new position in shares of EnLink Midstream in the 2nd quarter worth about $56,000. Sunbelt Securities Inc. boosted its holdings in shares of EnLink Midstream by 24.2% in the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after buying an additional 1,343 shares during the last quarter. SG Americas Securities LLC bought a new position in EnLink Midstream during the first quarter valued at about $105,000. Finally, First Horizon Advisors Inc. increased its holdings in EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after buying an additional 853 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENLC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Capital One Financial reiterated an “equal weight” rating and issued a $16.00 price objective on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research report on Monday, September 16th. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research note on Friday, August 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research note on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EnLink Midstream has a consensus rating of “Hold” and a consensus price target of $15.44.

EnLink Midstream Price Performance

Shares of NYSE ENLC opened at $14.74 on Wednesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. EnLink Midstream, LLC has a fifty-two week low of $11.53 and a fifty-two week high of $14.84. The stock has a market cap of $6.80 billion, a PE ratio of 49.12 and a beta of 2.40. The stock has a fifty day moving average of $14.24 and a 200-day moving average of $13.67.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts anticipate that EnLink Midstream, LLC will post 0.59 earnings per share for the current year.

EnLink Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is presently 176.67%.

Insiders Place Their Bets

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.84% of the company’s stock.

EnLink Midstream 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.