Teacher Retirement System of Texas Has $1.09 Million Stake in EnLink Midstream, LLC (NYSE:ENLC)

Teacher Retirement System of Texas reduced its position in shares of EnLink Midstream, LLC (NYSE:ENLCFree Report) by 29.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,572 shares of the pipeline company’s stock after selling 37,822 shares during the quarter. Teacher Retirement System of Texas’ holdings in EnLink Midstream were worth $1,089,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Kayne Anderson Capital Advisors LP boosted its holdings in shares of EnLink Midstream by 6.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,860,400 shares of the pipeline company’s stock worth $22,622,000 after purchasing an additional 111,300 shares during the period. TCG Advisory Services LLC acquired a new stake in shares of EnLink Midstream during the 4th quarter valued at $2,991,000. Victory Capital Management Inc. purchased a new position in shares of EnLink Midstream during the 4th quarter valued at $375,000. Van ECK Associates Corp increased its stake in shares of EnLink Midstream by 11.3% in the fourth quarter. Van ECK Associates Corp now owns 78,636 shares of the pipeline company’s stock worth $956,000 after acquiring an additional 7,962 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of EnLink Midstream during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 45.87% of the company’s stock.

Analysts Set New Price Targets

ENLC has been the topic of a number of recent research reports. StockNews.com downgraded EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Citigroup increased their price objective on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. reduced their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Finally, Capital One Financial initiated coverage on shares of EnLink Midstream in a research note on Friday, March 22nd. They set an “overweight” rating and a $15.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Check Out Our Latest Stock Report on ENLC

Insiders Place Their Bets

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

EnLink Midstream Trading Down 1.4 %

NYSE:ENLC opened at $13.42 on Wednesday. The company’s 50 day moving average is $13.44 and its 200-day moving average is $12.78. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. EnLink Midstream, LLC has a 12 month low of $9.52 and a 12 month high of $14.18. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 38.34 and a beta of 2.39.

EnLink Midstream (NYSE:ENLCGet Free Report) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. Equities analysts anticipate that EnLink Midstream, LLC will post 0.55 EPS for the current year.

EnLink Midstream Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th were issued a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

About EnLink Midstream

(Free Report)

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.

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

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