Catalyst Capital Advisors LLC grew its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 18.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 915,825 shares of the pipeline company’s stock after buying an additional 141,860 shares during the period. EnLink Midstream accounts for approximately 0.7% of Catalyst Capital Advisors LLC’s holdings, making the stock its 16th biggest position. Catalyst Capital Advisors LLC owned 0.51% of EnLink Midstream worth $15,798,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of EnLink Midstream during the 3rd quarter valued at $255,000. First Dallas Securities Inc. boosted its holdings in shares of EnLink Midstream by 3.1% during the 3rd quarter. First Dallas Securities Inc. now owns 147,908 shares of the pipeline company’s stock valued at $2,552,000 after buying an additional 4,488 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of EnLink Midstream during the 3rd quarter valued at $638,000. Global X MANAGEMENT CO LLC boosted its stake in EnLink Midstream by 29.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 575,324 shares of the pipeline company’s stock worth $9,924,000 after purchasing an additional 131,283 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in EnLink Midstream by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,182,575 shares of the pipeline company’s stock worth $37,650,000 after purchasing an additional 80,717 shares in the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.
EnLink Midstream, LLC (ENLC) traded up $0.15 during midday trading on Monday, hitting $15.55. 360,000 shares of the stock traded hands, compared to its average volume of 407,304. EnLink Midstream, LLC has a 12-month low of $15.00 and a 12-month high of $20.45. The stock has a market cap of $2,808.16, a price-to-earnings ratio of 518.33 and a beta of 2.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend was Tuesday, October 31st. EnLink Midstream’s dividend payout ratio is 3,401.13%.
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A number of equities analysts recently issued reports on the stock. Citigroup Inc. upgraded shares of EnLink Midstream to a “neutral” rating and set a $19.00 price target on the stock in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Royal Bank Of Canada restated a “hold” rating and set a $21.00 target price on shares of EnLink Midstream in a research note on Monday, July 31st. Mitsubishi UFJ Financial Group upgraded shares of EnLink Midstream from an “underweight” rating to a “neutral” rating and set a $19.00 target price on the stock in a research note on Friday, August 4th. Finally, Robert W. Baird restated a “hold” rating and set a $21.00 target price on shares of EnLink Midstream in a research note on Thursday, September 21st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. EnLink Midstream has a consensus rating of “Hold” and an average target price of $18.83.
EnLink Midstream 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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