Keybank National Association OH trimmed its stake in EnLink Midstream LLC (NYSE:ENLC) by 10.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,760 shares of the pipeline company’s stock after selling 6,723 shares during the period. Keybank National Association OH’s holdings in EnLink Midstream were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ENLC. Tortoise Capital Advisors L.L.C. boosted its position in EnLink Midstream by 434.0% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 31,552,103 shares of the pipeline company’s stock valued at $403,236,000 after buying an additional 25,643,624 shares during the period. Alps Advisors Inc. lifted its position in shares of EnLink Midstream by 12,208.4% in the 1st quarter. Alps Advisors Inc. now owns 24,648,082 shares of the pipeline company’s stock worth $315,002,000 after purchasing an additional 24,447,828 shares during the period. OppenheimerFunds Inc. lifted its position in shares of EnLink Midstream by 36,353.8% in the 1st quarter. OppenheimerFunds Inc. now owns 12,168,263 shares of the pipeline company’s stock worth $155,510,000 after purchasing an additional 12,134,883 shares during the period. Clearbridge Investments LLC lifted its position in shares of EnLink Midstream by 21,064.4% in the 1st quarter. Clearbridge Investments LLC now owns 10,697,359 shares of the pipeline company’s stock worth $136,712,000 after purchasing an additional 10,646,815 shares during the period. Finally, Kayne Anderson Capital Advisors LP lifted its position in shares of EnLink Midstream by 802.2% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 8,179,805 shares of the pipeline company’s stock worth $104,534,000 after purchasing an additional 7,273,105 shares during the period. 49.45% of the stock is owned by institutional investors.

Shares of ENLC opened at $8.11 on Wednesday. The company has a 50 day moving average price of $9.33 and a 200-day moving average price of $10.78. EnLink Midstream LLC has a fifty-two week low of $7.14 and a fifty-two week high of $17.65. The stock has a market capitalization of $3.95 billion, a PE ratio of -115.79, a PEG ratio of 6.55 and a beta of 2.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.85 billion. EnLink Midstream had a negative return on equity of 0.16% and a negative net margin of 3.21%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 EPS. Equities research analysts forecast that EnLink Midstream LLC will post 0.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Monday, July 29th were paid a dividend of $0.283 per share. This represents a $1.13 annualized dividend and a dividend yield of 13.97%. The ex-dividend date of this dividend was Friday, July 26th. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. EnLink Midstream’s payout ratio is -1,614.29%.

Several equities research analysts have recently weighed in on ENLC shares. ValuEngine raised shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Mizuho started coverage on shares of EnLink Midstream in a research report on Thursday, July 25th. They issued a “neutral” rating and a $11.50 price target for the company. Credit Suisse Group cut shares of EnLink Midstream from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $13.50 to $8.00 in a research report on Monday. Mitsubishi UFJ Financial Group cut shares of EnLink Midstream from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $10.00 in a research report on Wednesday, August 7th. Finally, Barclays reaffirmed a “hold” rating and issued a $12.00 price target on shares of EnLink Midstream in a research report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.61.

In other news, Chairman Barry E. Davis acquired 136,700 shares of EnLink Midstream stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $7.32 per share, for a total transaction of $1,000,644.00. Following the purchase, the chairman now directly owns 1,892,372 shares in the company, valued at approximately $13,852,163.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kyle D. Vann acquired 20,000 shares of EnLink Midstream stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $7.44 per share, with a total value of $148,800.00. Following the purchase, the director now owns 99,907 shares in the company, valued at $743,308.08. The disclosure for this purchase can be found here. Insiders own 1.45% of the company’s stock.

EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.

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Institutional Ownership by Quarter for EnLink Midstream (NYSE:ENLC)

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