Eagle Global Advisors LLC Purchases 48,200 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Eagle Global Advisors LLC grew its holdings in EnLink Midstream, LLC (NYSE:ENLC) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,179,296 shares of the pipeline company’s stock after acquiring an additional 48,200 shares during the quarter. Eagle Global Advisors LLC’s holdings in EnLink Midstream were worth $14,340,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ENLC. Glenmede Trust Co. NA grew its holdings in EnLink Midstream by 2.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock valued at $795,000 after buying an additional 1,494 shares during the last quarter. Lee Financial Co boosted its holdings in EnLink Midstream by 2.2% in the 3rd quarter. Lee Financial Co now owns 80,655 shares of the pipeline company’s stock valued at $986,000 after purchasing an additional 1,737 shares during the period. Headlands Technologies LLC acquired a new stake in EnLink Midstream in the 4th quarter worth $27,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of EnLink Midstream by 15.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,461 shares of the pipeline company’s stock worth $200,000 after purchasing an additional 2,217 shares during the period. Finally, Raymond James & Associates raised its position in shares of EnLink Midstream by 1.4% during the fourth quarter. Raymond James & Associates now owns 161,320 shares of the pipeline company’s stock valued at $1,962,000 after buying an additional 2,240 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors.

EnLink Midstream Price Performance

Shares of ENLC traded up $0.06 during trading hours on Friday, hitting $12.92. The stock had a trading volume of 1,511,573 shares, compared to its average volume of 1,918,691. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 36.74 and a beta of 2.39. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78. The company’s fifty day moving average is $13.45 and its two-hundred day moving average is $12.79. EnLink Midstream, LLC has a 52 week low of $9.52 and a 52 week high of $14.18.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. On average, analysts anticipate that EnLink Midstream, LLC will post 0.55 EPS for the current year.

EnLink Midstream Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th were given a $0.132 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $0.53 annualized dividend and a yield of 4.09%. EnLink Midstream’s payout ratio is 151.43%.

Insiders Place Their Bets

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction that occurred on 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 through the SEC website. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ENLC shares. Citigroup boosted their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lowered their price objective on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Capital One Financial initiated coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price target on the stock. Finally, StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EnLink Midstream has an average rating of “Moderate Buy” and an average target price of $14.33.

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.