Icon Wealth Advisors LLC Makes New Investment in EnLink Midstream, LLC (NYSE:ENLC)

Icon Wealth Advisors LLC bought a new position in shares of EnLink Midstream, LLC (NYSE:ENLC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,358 shares of the pipeline company’s stock, valued at approximately $107,000.

A number of other institutional investors also recently modified their holdings of the business. ORG Partners LLC bought a new stake in shares of EnLink Midstream in the second quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. acquired a new position in EnLink Midstream in the 2nd quarter valued at $56,000. First Horizon Advisors Inc. lifted its position in shares of EnLink Midstream by 12.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 853 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 1,511 shares in the last quarter. Finally, Inscription Capital LLC acquired a new stake in shares of EnLink Midstream during the 3rd quarter worth $154,000. Institutional investors own 45.87% of the company’s stock.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.84% of the company’s stock.

EnLink Midstream Stock Performance

NYSE:ENLC opened at $16.01 on Monday. The stock’s 50-day moving average is $15.02 and its 200-day moving average is $14.03. EnLink Midstream, LLC has a 1-year low of $11.53 and a 1-year high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The stock has a market cap of $7.32 billion, a P/E ratio of 76.24 and a beta of 2.41.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. Equities research analysts anticipate that EnLink Midstream, LLC will post 0.51 earnings per share for the current year.

EnLink Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.1325 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a yield of 3.31%. EnLink Midstream’s payout ratio is 252.38%.

Analyst Ratings Changes

ENLC has been the subject of several recent analyst reports. Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Friday, August 30th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Mizuho restated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Ten 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.40.

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.