TCG Advisory Services LLC Acquires New Position in EnLink Midstream, LLC (NYSE:ENLC)

TCG Advisory Services LLC acquired a new position in shares of EnLink Midstream, LLC (NYSE:ENLC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 246,000 shares of the pipeline company’s stock, valued at approximately $2,991,000. TCG Advisory Services LLC owned 0.05% of EnLink Midstream at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ENLC. Alps Advisors Inc. grew its stake in shares of EnLink Midstream by 11.0% in the 3rd quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after purchasing an additional 4,200,733 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of EnLink Midstream in the third quarter valued at about $3,246,000. UBS Group AG boosted its holdings in EnLink Midstream by 22.9% during the third 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of EnLink Midstream during the 3rd quarter worth approximately $1,337,000. Finally, Strategic Blueprint LLC acquired a new stake in shares of EnLink Midstream in the 4th quarter worth approximately $126,000. Hedge funds and other institutional investors own 45.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Capital One Financial began coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price objective on the stock. Citigroup raised their price objective on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. UBS Group lifted their price objective on EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. cut their price target on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.29.

EnLink Midstream Trading Down 0.6 %

ENLC traded down $0.08 during midday trading on Friday, hitting $12.80. The company’s stock had a trading volume of 1,187,626 shares, compared to its average volume of 2,006,254. The firm has a market cap of $5.80 billion, a P/E ratio of 36.60 and a beta of 2.39. EnLink Midstream, LLC has a 52-week low of $8.45 and a 52-week high of $14.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. The firm has a 50-day moving average price of $13.22 and a two-hundred day moving average price of $12.70.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.45%. On average, research analysts anticipate that EnLink Midstream, LLC will post 0.6 earnings per share for the current year.

EnLink Midstream Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders 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 dividend yield of 4.13%. EnLink Midstream’s payout ratio is 151.43%.

Insider Buying and Selling

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at $6,450,720. The sale was disclosed in a filing with the SEC, which is available at this link. In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 534,000 shares in the company, valued at $6,450,720. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 58,410 shares in the company, 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.

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.