Vanguard Group Inc. Sells 82,191 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Vanguard Group Inc. cut its holdings in EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,528,704 shares of the pipeline company's stock after selling 82,191 shares during the period. Vanguard Group Inc. owned 0.33% of EnLink Midstream worth $18,681,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ENLC. Alps Advisors Inc. increased its position 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 acquiring an additional 4,200,733 shares during the period. Hodges Capital Management Inc. purchased a new stake in EnLink Midstream during the third quarter worth $3,246,000. UBS Group AG grew 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 valued at $18,848,000 after acquiring an additional 287,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in EnLink Midstream in the third quarter valued at approximately $1,337,000. Finally, Jennison Associates LLC grew its stake in EnLink Midstream by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 2,742,677 shares of the pipeline company's stock valued at $33,516,000 after acquiring an additional 51,447 shares during the period. 45.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENLC has been the subject of a number of recent analyst reports. UBS Group raised their price objective on EnLink Midstream from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. decreased their price target on 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 started coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They set an "overweight" rating and a $15.00 price target for the company. Finally, StockNews.com lowered shares of EnLink Midstream from a "buy" rating to a "hold" rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $14.43.

Insider Transactions at EnLink Midstream

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the transaction, the chief accounting officer now owns 58,410 shares of the company's stock, valued at approximately $719,611.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the transaction, the chief accounting officer now owns 58,410 shares in the company, valued at approximately $719,611.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer now owns 534,000 shares in the company, valued at approximately $6,450,720. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company's stock.

EnLink Midstream Stock Performance

ENLC stock traded down $0.11 during midday trading on Monday, hitting $13.45. 1,779,625 shares of the company traded hands, compared to its average volume of 1,959,803. EnLink Midstream, LLC has a twelve month low of $8.45 and a twelve month high of $14.18. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70. The business has a 50 day simple moving average of $12.81 and a 200-day simple moving average of $12.57. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 30.57 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. As a group, equities research analysts predict that EnLink Midstream, LLC will post 0.6 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be given a dividend of $0.132 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 annualized dividend and a dividend yield of 3.93%. EnLink Midstream's payout ratio is currently 120.46%.

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.