246,000 Shares in EnLink Midstream, LLC (NYSE:ENLC) Purchased by TCG Advisory Services LLC

TCG Advisory Services LLC acquired a new position in shares of EnLink Midstream, LLC (NYSE:ENLC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 246,000 shares of the pipeline company's stock, valued at approximately $2,991,000. TCG Advisory Services LLC owned approximately 0.05% of EnLink Midstream at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ENLC. Mirae Asset Global Investments Co. Ltd. grew its stake in EnLink Midstream by 70.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company's stock valued at $152,247,000 after acquiring an additional 5,152,252 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of EnLink Midstream by 11.0% in the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company's stock valued at $518,001,000 after purchasing an additional 4,200,733 shares during the last quarter. Hennessy Advisors Inc. lifted its position in EnLink Midstream by 1,614.2% during the fourth quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company's stock worth $22,721,000 after buying an additional 1,759,500 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in EnLink Midstream by 79.1% during the third quarter. Kayne Anderson Capital Advisors LP now owns 1,749,100 shares of the pipeline company's stock worth $21,374,000 after buying an additional 772,700 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in EnLink Midstream by 13.9% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company's stock worth $37,618,000 after buying an additional 378,450 shares during the last quarter. Hedge funds and other institutional investors own 45.87% of the company's stock.

Insider Activity

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

EnLink Midstream Trading Down 0.6 %

EnLink Midstream stock traded down $0.08 during midday trading on Friday, reaching $12.80. 1,187,626 shares of the stock traded hands, compared to its average volume of 2,006,254. The firm has a market cap of $5.80 billion, a PE ratio of 36.57 and a beta of 2.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. The company has a 50-day simple moving average of $13.23 and a two-hundred day simple moving average of $12.70. EnLink Midstream, LLC has a 12-month low of $8.45 and a 12-month high of $14.18.

EnLink Midstream (NYSE:ENLC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.45%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Research analysts expect that EnLink Midstream, LLC will post 0.6 earnings per share for the current fiscal year.

EnLink Midstream Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be given a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Thursday, April 25th. EnLink Midstream's dividend payout ratio is presently 151.43%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ENLC. JPMorgan Chase & Co. reduced their price target on EnLink Midstream from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, February 29th. Citigroup increased their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. StockNews.com raised shares of EnLink Midstream from a "hold" rating to a "buy" rating in a research report on Friday, April 19th. UBS Group increased 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. Finally, Capital One Financial assumed coverage on EnLink Midstream in a research report on Friday, March 22nd. They issued an "overweight" rating and a $15.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.29.

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.