Miller Howard Investments Inc. NY Has $25.43 Million Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Miller Howard Investments Inc. NY cut its stake in EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,091,599 shares of the pipeline company's stock after selling 224,430 shares during the period. Miller Howard Investments Inc. NY owned about 0.46% of EnLink Midstream worth $25,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENLC. Alps Advisors Inc. grew its stake in shares of EnLink Midstream by 11.0% during the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company's stock worth $518,001,000 after purchasing an additional 4,200,733 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of EnLink Midstream in the 3rd quarter valued at about $3,246,000. UBS Group AG raised its position in shares of EnLink Midstream by 22.9% during the 3rd quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company's stock worth $18,848,000 after acquiring an additional 287,400 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in EnLink Midstream during the third quarter worth approximately $1,337,000. Finally, Jennison Associates LLC boosted its holdings in EnLink Midstream by 1.9% in the third quarter. Jennison Associates LLC now owns 2,742,677 shares of the pipeline company's stock valued at $33,516,000 after purchasing an additional 51,447 shares in the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at EnLink Midstream

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the sale, the chief financial officer now owns 534,000 shares of the company's stock, valued at $6,450,720. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the sale, the chief accounting officer now owns 58,410 shares of the company's stock, valued at $719,611.20. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

EnLink Midstream Stock Performance

NYSE ENLC traded down $0.04 during trading on Tuesday, reaching $13.77. The company's stock had a trading volume of 1,362,010 shares, compared to its average volume of 1,961,646. The business's fifty day moving average price is $12.67 and its 200-day moving average price is $12.54. EnLink Midstream, LLC has a twelve month low of $8.45 and a twelve month high of $14.18. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 31.32 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC - Get Free Report) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.14. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. As a group, analysts anticipate that EnLink Midstream, LLC will post 0.6 EPS for the current fiscal year.

EnLink Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Monday, January 29th were given a dividend of $0.1325 per share. This is a boost from EnLink Midstream's previous quarterly dividend of $0.13. The ex-dividend date was Friday, January 26th. This represents a $0.53 annualized dividend and a yield of 3.85%. EnLink Midstream's payout ratio is presently 120.46%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ENLC shares. StockNews.com cut shares of EnLink Midstream from a "buy" rating to a "hold" rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. cut their price target on shares of EnLink Midstream from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, February 29th. Capital One Financial assumed coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They issued an "overweight" rating and a $15.00 price objective for the company. Finally, UBS Group lifted their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, EnLink Midstream has a consensus rating of "Moderate Buy" and a consensus target price of $14.43.

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.