Infrastructure Investor Global Sells 200,340,753 Shares of EnLink Midstream, LLC (NYSE:ENLC) Stock

EnLink Midstream, LLC (NYSE:ENLC) major shareholder Infrastructure Investor Global sold 200,340,753 shares of the 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 legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

EnLink Midstream Trading Down 0.1 %

Shares of NYSE:ENLC traded down $0.01 during midday trading on Thursday, reaching $14.60. The company had a trading volume of 2,335,815 shares, compared to its average volume of 2,039,289. The company has a fifty day simple moving average of $14.03 and a two-hundred day simple moving average of $13.65. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 41.79 and a beta of 2.40. 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 1-year low of $11.53 and a 1-year high of $14.80.

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

EnLink Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENLC. Clearbridge Investments LLC acquired a new stake in EnLink Midstream in the 1st quarter valued at $873,000. Hennessy Advisors Inc. boosted its stake in EnLink Midstream by 13.3% in the 1st 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 in the last quarter. Miller Howard Investments Inc. NY boosted its stake in EnLink Midstream by 3.3% in the 1st 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 in the last quarter. Janus Henderson Group PLC acquired a new stake in EnLink Midstream in the 1st quarter valued at $1,453,000. Finally, Westwood Holdings Group Inc. boosted its stake in EnLink Midstream by 22.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after buying an additional 416,424 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a report on Monday, September 16th. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, September 30th. Finally, Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Friday, August 30th. Seven investment 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 stock. According to data from MarketBeat, EnLink Midstream currently has a consensus rating of “Hold” and an average price target of $15.44.

About EnLink Midstream

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.