Ameriprise Financial Inc. increased its position in shares of EnLink Midstream, LLC (NYSE:ENLC) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,742 shares of the pipeline company’s stock after buying an additional 412 shares during the period. Ameriprise Financial Inc.’s holdings in EnLink Midstream were worth $266,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Duff & Phelps Investment Management Co. boosted its stake in EnLink Midstream by 10.0% in the first quarter. Duff & Phelps Investment Management Co. now owns 11,000 shares of the pipeline company’s stock worth $213,000 after buying an additional 1,000 shares during the last quarter. Hollencrest Securities LLC purchased a new stake in EnLink Midstream during the first quarter worth approximately $258,000. Engineers Gate Manager LP boosted its stake in EnLink Midstream by 10.8% in the first quarter. Engineers Gate Manager LP now owns 47,409 shares of the pipeline company’s stock worth $920,000 after buying an additional 4,623 shares during the last quarter. State Street Corp boosted its stake in EnLink Midstream by 34.3% in the fourth quarter. State Street Corp now owns 91,998 shares of the pipeline company’s stock worth $1,749,000 after buying an additional 23,498 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in EnLink Midstream by 2,201.2% in the first quarter. Great West Life Assurance Co. Can now owns 134,206 shares of the pipeline company’s stock valued at $2,605,000 after buying an additional 128,374 shares during the last quarter. 33.79% of the stock is currently owned by institutional investors.
Shares of EnLink Midstream, LLC (NYSE ENLC) traded up 0.93% during midday trading on Friday, reaching $16.35. The company had a trading volume of 277,306 shares. The stock has a market capitalization of $2.95 billion, a PE ratio of 4087.50 and a beta of 2.58. The company’s 50 day moving average price is $17.38 and its 200 day moving average price is $18.11. EnLink Midstream, LLC has a 52-week low of $14.70 and a 52-week high of $20.45.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date of this dividend was Friday, July 28th.
ENLC has been the subject of a number of recent research reports. BidaskClub raised shares of EnLink Midstream from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 price objective on shares of EnLink Midstream in a research note on Friday, April 21st. Jefferies Group LLC raised shares of EnLink Midstream from an “underperform” rating to a “hold” rating and dropped their price objective for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. Zacks Investment Research lowered shares of EnLink Midstream from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 4th. Finally, Barclays PLC reissued a “hold” rating and set a $19.00 target price on shares of EnLink Midstream in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. EnLink Midstream currently has a consensus rating of “Hold” and a consensus price target of $18.55.
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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