EnLink Midstream, LLC (NYSE:ENLC) Stake Decreased by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC trimmed its stake in EnLink Midstream, LLC (NYSE:ENLC) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,187,059 shares of the pipeline company’s stock after selling 2,108,528 shares during the quarter. EnLink Midstream comprises 6.4% of Chickasaw Capital Management LLC’s portfolio, making the stock its 7th largest position. Chickasaw Capital Management LLC owned about 2.45% of EnLink Midstream worth $158,297,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of EnLink Midstream by 100.8% in the 3rd quarter. Van ECK Associates Corp now owns 127,462 shares of the pipeline company’s stock valued at $1,883,000 after purchasing an additional 63,997 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in EnLink Midstream by 4.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,351,996 shares of the pipeline company’s stock valued at $32,363,000 after buying an additional 106,467 shares during the period. Walleye Capital LLC lifted its position in EnLink Midstream by 1,829.6% in the third quarter. Walleye Capital LLC now owns 282,246 shares of the pipeline company’s stock worth $4,095,000 after purchasing an additional 267,619 shares during the period. Wellington Management Group LLP raised its position in EnLink Midstream by 268.0% in the third quarter. Wellington Management Group LLP now owns 402,099 shares of the pipeline company’s stock worth $5,834,000 after acquiring an additional 292,833 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its holdings in EnLink Midstream by 120.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after buying an additional 1,141,254 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a report on Monday, September 16th. StockNews.com initiated coverage on shares of EnLink Midstream in a research note on Tuesday. They issued a “hold” rating for the company. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Monday, September 30th. Mizuho reaffirmed a “neutral” rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, November 21st. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.40.

Insider Transactions at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

EnLink Midstream Trading Up 0.2 %

ENLC traded up $0.03 during trading on Tuesday, reaching $14.32. 1,075,659 shares of the company’s stock were exchanged, compared to its average volume of 1,181,320. EnLink Midstream, LLC has a fifty-two week low of $11.53 and a fifty-two week high of $16.40. The company’s fifty day moving average price is $14.96 and its 200-day moving average price is $14.31. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $6.55 billion, a PE ratio of 68.19 and a beta of 2.43.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, equities analysts forecast that EnLink Midstream, LLC will post 0.51 EPS for the current year.

EnLink Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.1325 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.70%. EnLink Midstream’s dividend payout ratio (DPR) is currently 252.38%.

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.