Victory Capital Management Inc. Takes $375,000 Position in EnLink Midstream, LLC (NYSE:ENLC)

Victory Capital Management Inc. purchased a new stake in EnLink Midstream, LLC (NYSE:ENLC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 30,845 shares of the pipeline company’s stock, valued at approximately $375,000.

A number of other large investors have also recently bought and sold shares of ENLC. Jump Financial LLC acquired a new stake in EnLink Midstream during the 3rd quarter worth approximately $369,000. Fox Run Management L.L.C. lifted its holdings in shares of EnLink Midstream by 150.0% during the third quarter. Fox Run Management L.L.C. now owns 44,130 shares of the pipeline company’s stock worth $539,000 after purchasing an additional 26,476 shares during the period. Pathstone Family Office LLC grew its position in EnLink Midstream by 103.4% in the 3rd quarter. Pathstone Family Office LLC now owns 31,080 shares of the pipeline company’s stock valued at $380,000 after buying an additional 15,800 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in EnLink Midstream by 79.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,749,100 shares of the pipeline company’s stock valued at $21,374,000 after buying an additional 772,700 shares during the period. Finally, UBS Group AG raised its position in EnLink Midstream by 22.9% during the 3rd quarter. UBS Group AG now owns 1,542,356 shares of the pipeline company’s stock worth $18,848,000 after buying an additional 287,400 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ENLC shares. Capital One Financial began coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. dropped their target price 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. StockNews.com downgraded EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Citigroup lifted their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.33.

EnLink Midstream Stock Performance

ENLC opened at $12.91 on Friday. The stock’s 50 day simple moving average is $13.45 and its 200 day simple moving average is $12.79. The stock has a market cap of $5.83 billion, a P/E ratio of 36.89 and a beta of 2.39. EnLink Midstream, LLC has a 1-year low of $9.52 and a 1-year high of $14.18. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.78 and a quick ratio of 0.78.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. As a group, equities analysts anticipate that EnLink Midstream, LLC will post 0.52 EPS for the current fiscal year.

EnLink Midstream Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th were paid a dividend of $0.132 per share. The ex-dividend date was Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.09%. EnLink Midstream’s dividend payout ratio (DPR) is 151.43%.

Insider Buying and Selling

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the sale, the chief financial officer now owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.