Icon Wealth Advisors LLC Takes Position in EnLink Midstream, LLC (NYSE:ENLC)

Icon Wealth Advisors LLC purchased a new position in shares of EnLink Midstream, LLC (NYSE:ENLC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 290,236 shares of the pipeline company’s stock, valued at approximately $4,211,000.

Several other hedge funds have also recently added to or reduced their stakes in ENLC. ORG Partners LLC purchased a new position in shares of EnLink Midstream in the second quarter worth about $28,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of EnLink Midstream in the second quarter valued at approximately $56,000. SG Americas Securities LLC purchased a new position in EnLink Midstream during the first quarter worth approximately $105,000. First Horizon Advisors Inc. boosted its stake in EnLink Midstream by 12.5% during the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after buying an additional 853 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares in the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ENLC. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 target price on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, August 16th. Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Friday, August 30th. Finally, Mizuho reiterated a “neutral” rating and issued a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.40.

Insider Transactions at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.84% of the company’s stock.

EnLink Midstream Stock Performance

NYSE ENLC opened at $15.67 on Friday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $7.16 billion, a P/E ratio of 74.60 and a beta of 2.41. The stock has a 50-day moving average of $14.87 and a two-hundred day moving average of $13.92. EnLink Midstream, LLC has a 1-year low of $11.53 and a 1-year high of $15.69.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data 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). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. As a group, analysts anticipate that EnLink Midstream, LLC will post 0.55 EPS for the current year.

EnLink Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.1325 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.38%. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

EnLink Midstream 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.