EnLink Midstream, LLC (NYSE:ENLC) Shares Purchased by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP raised its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,860,400 shares of the pipeline company’s stock after buying an additional 111,300 shares during the quarter. EnLink Midstream comprises about 0.7% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 26th biggest position. Kayne Anderson Capital Advisors LP owned about 0.41% of EnLink Midstream worth $22,622,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in shares of EnLink Midstream by 14.8% during the third quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock valued at $84,000 after acquiring an additional 885 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of EnLink Midstream by 2.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock worth $795,000 after purchasing an additional 1,494 shares during the last quarter. Lee Financial Co grew its holdings in shares of EnLink Midstream by 2.2% during the third quarter. Lee Financial Co now owns 80,655 shares of the pipeline company’s stock worth $986,000 after buying an additional 1,737 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of EnLink Midstream by 8.6% in the third quarter. Lindbrook Capital LLC now owns 26,404 shares of the pipeline company’s stock valued at $323,000 after buying an additional 2,087 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of EnLink Midstream in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 45.87% of the company’s stock.

EnLink Midstream Trading Up 1.8 %

ENLC traded up $0.24 on Thursday, reaching $13.55. 102,899 shares of the company’s stock were exchanged, compared to its average volume of 1,942,099. EnLink Midstream, LLC has a twelve month low of $8.56 and a twelve month high of $14.18. The company’s 50 day moving average is $13.29 and its 200-day moving average is $12.71. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 38.46 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. Equities analysts predict that EnLink Midstream, LLC will post 0.59 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, April 26th will be given a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is presently 151.43%.

Insider Buying and Selling

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the sale, the chief financial officer now owns 534,000 shares of the company’s stock, valued at $6,450,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction dated 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 directly owns 58,410 shares of the company’s stock, valued at $719,611.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the transaction, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on ENLC shares. StockNews.com cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup increased their target price on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Capital One Financial initiated coverage on EnLink Midstream in a research note on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Finally, UBS Group raised their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.33.

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.