Kayne Anderson Capital Advisors LP Buys 111,300 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Kayne Anderson Capital Advisors LP raised its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 6.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,860,400 shares of the pipeline company’s stock after purchasing an additional 111,300 shares during the quarter. EnLink Midstream comprises 0.7% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 26th biggest position. Kayne Anderson Capital Advisors LP’s holdings in EnLink Midstream were worth $22,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in EnLink Midstream by 8.6% in the 3rd 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in EnLink Midstream by 13.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,183 shares of the pipeline company’s stock worth $625,000 after buying an additional 6,029 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in EnLink Midstream by 70.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock worth $152,247,000 after buying an additional 5,152,252 shares in the last quarter. First Horizon Advisors Inc. increased its stake in 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 period. Finally, Jennison Associates LLC raised its holdings in EnLink Midstream by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 2,742,677 shares of the pipeline company’s stock valued at $33,516,000 after acquiring an additional 51,447 shares in the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ENLC shares. JPMorgan Chase & Co. lowered their price objective on 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 boosted their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Capital One Financial assumed coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price objective for the company. Citigroup upped their target price 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. Finally, StockNews.com cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.33.

Insider Buying and Selling at EnLink Midstream

In other news, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction 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 owns 58,410 shares in the company, valued at $719,611.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Benjamin D. Lamb sold 250,552 shares of the firm’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 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 document filed with the SEC, which is accessible through the SEC website. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the business’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 completion of the transaction, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

EnLink Midstream Price Performance

Shares of ENLC traded up $0.24 during trading hours on Thursday, hitting $13.55. The stock had a trading volume of 102,899 shares, compared to its average volume of 1,942,099. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 38.46 and a beta of 2.39. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78. The company’s fifty day moving average is $13.29 and its two-hundred day moving average is $12.71. EnLink Midstream, LLC has a 52 week low of $8.56 and a 52 week high of $14.18.

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

EnLink Midstream Cuts Dividend

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

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.