EnLink Midstream, LLC (NYSE:ENLC) Shares Sold by Callahan Advisors LLC

Callahan Advisors LLC trimmed its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 16.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the pipeline company’s stock after selling 2,000 shares during the period. Callahan Advisors LLC’s holdings in EnLink Midstream were worth $152,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in EnLink Midstream during the 1st quarter valued at $105,000. Clearbridge Investments LLC bought a new position in EnLink Midstream during the 1st quarter valued at $873,000. CANADA LIFE ASSURANCE Co boosted its stake in EnLink Midstream by 4.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 184,007 shares of the pipeline company’s stock valued at $2,513,000 after acquiring an additional 8,218 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in EnLink Midstream by 22.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after acquiring an additional 416,424 shares during the last quarter. Finally, Blackstone Inc. boosted its stake in EnLink Midstream by 3.8% during the 1st quarter. Blackstone Inc. now owns 1,500,470 shares of the pipeline company’s stock valued at $20,466,000 after acquiring an additional 55,000 shares during the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENLC has been the topic of a number of recent research reports. Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a research report on Monday, September 16th. UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Monday, September 30th. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, EnLink Midstream currently has a consensus rating of “Hold” and an average target price of $15.40.

Insider Buying and Selling

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

EnLink Midstream Stock Performance

ENLC stock opened at $15.32 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 51.05 and a beta of 2.41. EnLink Midstream, LLC has a 12 month low of $11.53 and a 12 month high of $15.32. The firm has a 50 day moving average of $14.58 and a two-hundred day moving average of $13.76.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. EnLink Midstream’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share. As a group, equities analysts anticipate that EnLink Midstream, LLC will post 0.58 EPS for the current fiscal year.

EnLink Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 176.67%.

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.