Cornercap Investment Counsel Inc. Has $285,000 Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Cornercap Investment Counsel Inc. lessened its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 57.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 19,612 shares of the pipeline company’s stock after selling 27,025 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in EnLink Midstream were worth $285,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Clearbridge Investments LLC bought a new stake in shares of EnLink Midstream during the 1st quarter valued at approximately $873,000. Janus Henderson Group PLC bought a new stake in EnLink Midstream during the 1st quarter valued at $1,453,000. Miller Howard Investments Inc. NY increased its stake in EnLink Midstream by 4.3% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company’s stock valued at $31,016,000 after purchasing an additional 93,587 shares in the last quarter. Van ECK Associates Corp grew 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 worth $1,883,000 after acquiring an additional 63,997 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of EnLink Midstream by 22.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock worth $30,629,000 after acquiring an additional 416,424 shares in the last quarter. 45.87% of the stock is owned by institutional investors.

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 that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.84% of the stock is owned by company insiders.

EnLink Midstream Trading Up 1.0 %

Shares of EnLink Midstream stock opened at $15.49 on Monday. EnLink Midstream, LLC has a 12-month low of $11.53 and a 12-month high of $15.67. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 73.76 and a beta of 2.41. The company has a current ratio of 0.42, a quick ratio of 0.65 and a debt-to-equity ratio of 2.30. The company’s 50-day moving average price is $14.77 and its 200-day moving average price is $13.85.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. On average, equities analysts expect that EnLink Midstream, LLC will post 0.55 earnings per share for the current fiscal year.

EnLink Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Friday, November 1st. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ENLC shares. 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 report on Monday, September 16th. Mizuho reissued a “neutral” rating and issued a $15.00 price target on shares of EnLink Midstream in a report on Thursday, October 31st. Stifel Nicolaus downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Friday, August 30th. Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 price objective on shares of EnLink Midstream in a report on Tuesday, September 3rd. Finally, 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 report on Friday, August 16th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, EnLink Midstream has a consensus rating of “Hold” and an average target price of $15.40.

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.