Arizona State Retirement System Sells 3,060 Shares of EnLink Midstream, LLC (NYSE:ENLC)

Arizona State Retirement System lowered its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 78,133 shares of the pipeline company’s stock after selling 3,060 shares during the period. Arizona State Retirement System’s holdings in EnLink Midstream were worth $290,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Chickasaw Capital Management LLC boosted its stake in EnLink Midstream by 11.6% during the fourth quarter. Chickasaw Capital Management LLC now owns 18,349,113 shares of the pipeline company’s stock worth $68,075,000 after acquiring an additional 1,904,821 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of EnLink Midstream by 2.8% in the third quarter. JPMorgan Chase & Co. now owns 8,123,755 shares of the pipeline company’s stock worth $19,090,000 after buying an additional 219,955 shares in the last quarter. Morgan Stanley lifted its stake in shares of EnLink Midstream by 21.5% in the third quarter. Morgan Stanley now owns 4,700,548 shares of the pipeline company’s stock worth $11,046,000 after buying an additional 832,322 shares in the last quarter. BlackRock Inc. lifted its stake in shares of EnLink Midstream by 9.1% in the third quarter. BlackRock Inc. now owns 1,325,335 shares of the pipeline company’s stock worth $3,115,000 after buying an additional 110,038 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of EnLink Midstream by 114.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,137,614 shares of the pipeline company’s stock worth $2,673,000 after buying an additional 605,937 shares in the last quarter. 34.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ENLC opened at $4.27 on Tuesday. The firm has a fifty day moving average price of $4.15 and a 200-day moving average price of $3.36. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $2.09 billion, a PE ratio of -1.73 and a beta of 3.62. EnLink Midstream, LLC has a 1 year low of $0.88 and a 1 year high of $4.82.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Monday, February 15th. The pipeline company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.33). EnLink Midstream had a positive return on equity of 3.18% and a negative net margin of 30.33%. On average, research analysts expect that EnLink Midstream, LLC will post 0.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Monday, February 1st were paid a $0.0938 dividend. The ex-dividend date was Friday, January 29th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 8.78%. EnLink Midstream’s dividend payout ratio (DPR) is presently 271.43%.

A number of research analysts recently weighed in on ENLC shares. Credit Suisse Group increased their price objective on shares of EnLink Midstream from $1.00 to $2.50 and gave the company an “underperform” rating in a research report on Monday, November 16th. Zacks Investment Research cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Wednesday, February 3rd. JPMorgan Chase & Co. raised shares of EnLink Midstream from an “underweight” rating to a “neutral” rating in a report on Tuesday, February 16th. Mizuho upped their target price on shares of EnLink Midstream from $3.50 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, January 20th. Finally, Wells Fargo & Company raised shares of EnLink Midstream from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $3.00 to $4.00 in a report on Monday, November 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $3.84.

EnLink Midstream Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Permian, North Texas, Oklahoma Texas, Louisiana Oklahoma, Louisiana, and Corporate segments. The company 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.

Further Reading: What is a portfolio manager?

Want to see what other hedge funds are holding ENLC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EnLink Midstream, LLC (NYSE:ENLC).

Institutional Ownership by Quarter for EnLink Midstream (NYSE:ENLC)

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