LVW Advisors LLC cut its holdings in shares of EnLink Midstream LLC (NYSE:ENLC) by 53.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,375 shares of the pipeline company’s stock after selling 24,525 shares during the period. LVW Advisors LLC’s holdings in EnLink Midstream were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its position in EnLink Midstream by 18.3% during the third quarter. Catalyst Capital Advisors LLC now owns 915,825 shares of the pipeline company’s stock valued at $15,798,000 after purchasing an additional 141,860 shares during the period. Gen IV Investment Opportunities LLC increased its holdings in EnLink Midstream by 0.8% in the third quarter. Gen IV Investment Opportunities LLC now owns 1,661,314 shares of the pipeline company’s stock valued at $28,658,000 after buying an additional 14,000 shares in the last quarter. Keybank National Association OH increased its holdings in EnLink Midstream by 72.0% in the third quarter. Keybank National Association OH now owns 45,470 shares of the pipeline company’s stock valued at $784,000 after buying an additional 19,030 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in EnLink Midstream in the third quarter valued at $638,000. Finally, Franklin Square Holdings L.P. increased its holdings in EnLink Midstream by 128.6% in the third quarter. Franklin Square Holdings L.P. now owns 38,870 shares of the pipeline company’s stock valued at $671,000 after buying an additional 21,870 shares in the last quarter. Institutional investors own 33.42% of the company’s stock.
A number of research firms have weighed in on ENLC. Bank of America cut their price objective on shares of EnLink Midstream from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Robert W. Baird set a $18.00 price objective on shares of EnLink Midstream and gave the company a “hold” rating in a report on Monday, February 12th. Seaport Global Securities set a $17.00 price objective on shares of EnLink Midstream and gave the company a “hold” rating in a report on Friday, February 9th. ValuEngine cut shares of EnLink Midstream from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, B. Riley began coverage on shares of EnLink Midstream in a report on Friday, January 26th. They issued a “neutral” rating and a $18.00 price objective for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. EnLink Midstream presently has a consensus rating of “Hold” and an average target price of $18.50.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were paid a dividend of $0.259 per share. The ex-dividend date was Tuesday, January 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 6.77%. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.26. EnLink Midstream’s payout ratio is currently 10,400.00%.
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EnLink Midstream Company Profile
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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