TCG Advisory Services LLC Invests $2.99 Million in EnLink Midstream, LLC (NYSE:ENLC)

TCG Advisory Services LLC purchased a new stake in shares of EnLink Midstream, LLC (NYSE:ENLC) during the 4th quarter, Holdings Channel reports. The fund purchased 246,000 shares of the pipeline company’s stock, valued at approximately $2,991,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of EnLink Midstream in the 4th quarter valued at $27,000. Sunbelt Securities Inc. grew its holdings in shares of EnLink Midstream by 232.4% during the third quarter. Sunbelt Securities Inc. now owns 5,488 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 3,837 shares during the last quarter. UMB Bank n.a. increased its stake in shares of EnLink Midstream by 198.8% in the fourth quarter. UMB Bank n.a. now owns 5,959 shares of the pipeline company’s stock valued at $72,000 after buying an additional 3,965 shares during the period. First Horizon Advisors Inc. increased its stake in shares of EnLink Midstream by 14.8% in the third quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock valued at $84,000 after buying an additional 885 shares during the period. Finally, Larson Financial Group LLC bought a new position in EnLink Midstream in the 3rd quarter valued at approximately $98,000. 45.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the completion of the sale, the chief financial officer now directly owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the sale, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at $719,611.20. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

EnLink Midstream Price Performance

Shares of ENLC stock traded down $0.08 during trading hours on Friday, reaching $12.80. The stock had a trading volume of 1,187,626 shares, compared to its average volume of 2,006,254. The stock’s fifty day simple moving average is $13.22 and its 200 day simple moving average is $12.70. The firm has a market capitalization of $5.80 billion, a PE ratio of 36.60 and a beta of 2.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. EnLink Midstream, LLC has a 12 month low of $8.45 and a 12 month high of $14.18.

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

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be given a dividend of $0.132 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 annualized dividend and a yield of 4.13%. EnLink Midstream’s payout ratio is presently 151.43%.

EnLink Midstream Company Profile

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.