EnLink Midstream LLC (ENLC) Stake Raised by Jennison Associates LLC

Jennison Associates LLC grew its position in EnLink Midstream LLC (NYSE:ENLC) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 458,454 shares of the pipeline company’s stock after acquiring an additional 20,784 shares during the quarter. Jennison Associates LLC owned about 0.25% of EnLink Midstream worth $7,542,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Macquarie Group Ltd. purchased a new position in EnLink Midstream in the 2nd quarter worth about $102,000. Commonwealth Bank of Australia purchased a new position in EnLink Midstream in the 3rd quarter worth about $134,000. Linscomb & Williams Inc. purchased a new position in EnLink Midstream in the 2nd quarter worth about $171,000. Verition Fund Management LLC purchased a new position in EnLink Midstream in the 2nd quarter worth about $218,000. Finally, Nisa Investment Advisors LLC purchased a new position in EnLink Midstream in the 2nd quarter worth about $247,000. 32.45% of the stock is currently owned by institutional investors and hedge funds.

In other news, CAO Susan J. Mcaden purchased 3,000 shares of the stock in a transaction dated Friday, November 9th. The shares were acquired at an average cost of $12.08 per share, for a total transaction of $36,240.00. Following the acquisition, the chief accounting officer now owns 25,944 shares of the company’s stock, valued at $313,403.52. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.24% of the stock is currently owned by company insiders.

ENLC has been the topic of several recent analyst reports. ValuEngine downgraded shares of EnLink Midstream from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Credit Suisse Group assumed coverage on shares of EnLink Midstream in a report on Thursday, October 11th. They set a “neutral” rating and a $19.00 target price on the stock. Raymond James reiterated a “buy” rating and set a $19.00 target price on shares of EnLink Midstream in a report on Friday, August 17th. Mitsubishi UFJ Financial Group upgraded shares of EnLink Midstream from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $20.00 to $18.00 in a report on Thursday, November 8th. Finally, Robert W. Baird reiterated a “hold” rating and set a $18.00 target price on shares of EnLink Midstream in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $17.57.

Shares of EnLink Midstream stock opened at $11.44 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71. EnLink Midstream LLC has a 1 year low of $11.15 and a 1 year high of $20.00. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -228.80 and a beta of 2.33.

EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, November 6th. The pipeline company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.08). EnLink Midstream had a return on equity of 0.89% and a net margin of 3.39%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm’s revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts forecast that EnLink Midstream LLC will post 0.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Monday, October 29th were issued a $0.271 dividend. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.48%. The ex-dividend date of this dividend was Friday, October 26th. EnLink Midstream’s dividend payout ratio (DPR) is currently -2,160.00%.

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About EnLink Midstream

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.

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Institutional Ownership by Quarter for EnLink Midstream (NYSE:ENLC)

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