Jennison Associates LLC Has $33.03 Million Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Jennison Associates LLC lessened its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,716,121 shares of the pipeline company’s stock after selling 26,556 shares during the quarter. Jennison Associates LLC’s holdings in EnLink Midstream were worth $33,028,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ENLC. First Horizon Advisors Inc. boosted its position 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 worth $84,000 after purchasing an additional 885 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of EnLink Midstream by 2.4% during the third 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 in the last quarter. Lee Financial Co boosted its position 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 purchasing an additional 1,737 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of EnLink Midstream by 8.6% during the third quarter. Lindbrook Capital LLC now owns 26,404 shares of the pipeline company’s stock worth $323,000 after purchasing an additional 2,087 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in EnLink Midstream by 15.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,461 shares of the pipeline company’s stock valued at $200,000 after acquiring an additional 2,217 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ENLC shares. JPMorgan Chase & Co. cut their price objective on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. UBS Group lifted their price target 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. Citigroup lifted their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Finally, Capital One Financial started coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, EnLink Midstream currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.63.

EnLink Midstream Stock Up 1.2 %

Shares of ENLC opened at $13.78 on Thursday. EnLink Midstream, LLC has a 52 week low of $8.45 and a 52 week high of $14.18. The firm has a market cap of $6.24 billion, a P/E ratio of 31.32 and a beta of 2.39. The firm’s 50-day simple moving average is $13.08 and its 200 day simple moving average is $12.66. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. On average, analysts forecast that EnLink Midstream, LLC will post 0.59 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be issued a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream’s dividend payout ratio is currently 120.46%.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s 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 sale, the chief financial officer now owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the chief financial officer now owns 534,000 shares of the company’s stock, valued at approximately $6,450,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the company’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 directly owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

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.