Maryland State Retirement & Pension System boosted its position in EnLink Midstream, LLC (NYSE:ENLC – Free Report) by 323.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 252,269 shares of the pipeline company’s stock after acquiring an additional 192,712 shares during the period. Maryland State Retirement & Pension System owned 0.05% of EnLink Midstream worth $2,735,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. MADDEN SECURITIES Corp acquired a new stake in shares of EnLink Midstream in the 4th quarter worth about $28,000. Newbridge Financial Services Group Inc. bought a new stake in EnLink Midstream during the 4th quarter worth approximately $38,000. Marshall Wace LLP purchased a new stake in shares of EnLink Midstream in the third quarter worth approximately $96,000. Glenmede Trust Co. NA bought a new position in shares of EnLink Midstream in the third quarter valued at approximately $106,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of EnLink Midstream during the third quarter valued at approximately $126,000. Institutional investors and hedge funds own 44.94% of the company’s stock.
Analyst Upgrades and Downgrades
ENLC has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on EnLink Midstream from $18.00 to $17.00 in a research report on Tuesday, April 25th. StockNews.com started coverage on shares of EnLink Midstream in a report on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup raised shares of EnLink Midstream from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Thursday, March 9th. JPMorgan Chase & Co. reduced their target price on EnLink Midstream from $13.00 to $12.00 in a report on Wednesday, June 28th. Finally, Stifel Nicolaus cut their price objective on EnLink Midstream from $14.50 to $14.00 in a research report on Thursday, May 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.14.
EnLink Midstream Price Performance
EnLink Midstream stock opened at $10.60 on Monday. The business’s 50 day simple moving average is $9.80 and its 200 day simple moving average is $11.01. EnLink Midstream, LLC has a 12 month low of $7.86 and a 12 month high of $13.58. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 13.42 and a beta of 2.52. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.70.
EnLink Midstream (NYSE:ENLC – Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The pipeline company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. EnLink Midstream had a return on equity of 13.48% and a net margin of 4.23%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Sell-side analysts forecast that EnLink Midstream, LLC will post 0.51 EPS for the current year.
EnLink Midstream Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Friday, April 28th were paid a $0.125 dividend. The ex-dividend date was Thursday, April 27th. This represents a $0.50 annualized dividend and a dividend yield of 4.72%. EnLink Midstream’s payout ratio is 63.29%.
About EnLink Midstream
EnLink Midstream, LLC provides midstream energy services in
. It operates through five segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The company 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.
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