Insider Selling: EnLink Midstream LLC (ENLC) EVP Sells 48,442 Shares of Stock

EnLink Midstream LLC (NYSE:ENLC) EVP Alaina K. Brooks sold 48,442 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $17.36, for a total transaction of $840,953.12. Following the completion of the sale, the executive vice president now owns 78,190 shares in the company, valued at $1,357,378.40. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of ENLC opened at $17.20 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.10 billion, a PE ratio of -344.00 and a beta of 2.59. EnLink Midstream LLC has a twelve month low of $13.80 and a twelve month high of $20.00.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, July 31st. The pipeline company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.05). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.61 billion. EnLink Midstream had a net margin of 3.73% and a return on equity of 0.86%. The company’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period last year, the business earned $0.15 earnings per share. equities analysts expect that EnLink Midstream LLC will post 0.42 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 14th. Investors of record on Monday, July 30th will be given a $0.267 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 6.21%. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, July 27th. EnLink Midstream’s dividend payout ratio (DPR) is -2,140.00%.

A number of equities research analysts have recently weighed in on ENLC shares. Barclays reduced their price objective on shares of EnLink Midstream from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 17th. Robert W. Baird restated a “hold” rating and issued a $18.00 price objective on shares of EnLink Midstream in a report on Monday. Guggenheim set a $16.00 price objective on shares of EnLink Midstream and gave the company a “hold” rating in a report on Monday, April 16th. B. Riley set a $18.00 price objective on shares of EnLink Midstream and gave the company a “hold” rating in a report on Monday, June 4th. Finally, ValuEngine upgraded shares of EnLink Midstream from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. EnLink Midstream has a consensus rating of “Hold” and an average target price of $17.54.

Several hedge funds and other institutional investors have recently bought and sold shares of ENLC. Principal Financial Group Inc. grew its position in shares of EnLink Midstream by 28.8% in the 1st quarter. Principal Financial Group Inc. now owns 2,967,940 shares of the pipeline company’s stock valued at $43,481,000 after buying an additional 662,795 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of EnLink Midstream by 14.6% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,960,576 shares of the pipeline company’s stock valued at $81,601,000 after buying an additional 632,450 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of EnLink Midstream by 13.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,173,164 shares of the pipeline company’s stock valued at $46,487,000 after buying an additional 378,910 shares during the last quarter. Spirit of America Management Corp NY purchased a new position in shares of EnLink Midstream in the 2nd quarter valued at $5,963,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of EnLink Midstream in the 2nd quarter valued at $3,906,000. 34.05% of the stock is currently owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.

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