Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of EnLink Midstream LLC (NYSE:ENLC) by 3,196.6% in the 1st quarter, HoldingsChannel reports. The firm owned 2,181,076 shares of the pipeline company’s stock after purchasing an additional 2,114,914 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in EnLink Midstream were worth $27,874,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENLC. Patriot Financial Group Insurance Agency LLC purchased a new position in EnLink Midstream during the first quarter worth about $31,000. Macquarie Group Ltd. raised its holdings in EnLink Midstream by 263.3% during the fourth quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 2,899 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in EnLink Midstream during the first quarter worth about $44,000. Squar Milner Financial Services LLC raised its holdings in EnLink Midstream by 135.2% during the first quarter. Squar Milner Financial Services LLC now owns 3,658 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 2,103 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new position in EnLink Midstream during the fourth quarter worth about $48,000. 24.35% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on ENLC shares. Jefferies Financial Group cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 target price for the company. in a report on Monday, April 15th. Barclays started coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They issued an “equal weight” rating and a $14.00 target price for the company. Citigroup started coverage on shares of EnLink Midstream in a report on Tuesday, March 12th. They issued a “buy” rating and a $13.00 target price for the company. Mitsubishi UFJ Financial Group raised shares of EnLink Midstream from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 20th. Finally, Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 target price for the company. in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. EnLink Midstream currently has an average rating of “Hold” and an average price target of $16.17.
Shares of EnLink Midstream stock opened at $11.17 on Thursday. EnLink Midstream LLC has a 12-month low of $8.90 and a 12-month high of $18.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of -159.57, a P/E/G ratio of 10.04 and a beta of 2.23.
EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, April 30th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. EnLink Midstream had a negative net margin of 2.62% and a negative return on equity of 0.09%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that EnLink Midstream LLC will post 0.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Monday, April 29th were given a $0.279 dividend. The ex-dividend date of this dividend was Friday, April 26th. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a dividend yield of 9.99%. EnLink Midstream’s dividend payout ratio is currently -1,600.00%.
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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