Duff & Phelps Investment Management Co. Sells 9,909 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Duff & Phelps Investment Management Co. cut its stake in EnLink Midstream, LLC (NYSE:ENLC) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,652,480 shares of the pipeline company’s stock after selling 9,909 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in EnLink Midstream were worth $20,094,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of EnLink Midstream by 70.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock worth $152,247,000 after buying an additional 5,152,252 shares during the period. Alps Advisors Inc. grew its position in EnLink Midstream by 11.0% during the 3rd 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. grew its position in EnLink Midstream by 1,614.2% during the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after purchasing an additional 1,759,500 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in EnLink Midstream by 79.1% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,749,100 shares of the pipeline company’s stock valued at $21,374,000 after purchasing an additional 772,700 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in EnLink Midstream by 13.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company’s stock valued at $37,618,000 after purchasing an additional 378,450 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors.

Insider Transactions at EnLink Midstream

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Citigroup increased their price objective on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Capital One Financial started coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective on the stock. UBS Group upped their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, EnLink Midstream has an average rating of “Moderate Buy” and an average price target of $14.29.

EnLink Midstream Stock Performance

ENLC traded down $0.27 during midday trading on Tuesday, hitting $13.83. 606,670 shares of the company traded hands, compared to its average volume of 1,888,665. The company’s 50-day moving average is $13.18 and its 200 day moving average is $12.69. EnLink Midstream, LLC has a 52 week low of $8.45 and a 52 week high of $14.18. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $6.27 billion, a PE ratio of 32.05 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, February 20th. 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 2.99% and a return on equity of 8.12%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. On average, research analysts expect that EnLink Midstream, LLC will post 0.6 EPS for the current year.

EnLink Midstream Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be paid a $0.132 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is presently 120.46%.

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.