According to a recent Form 13F filing with the SEC, US Bancorp DE has acquired a new stake in EnLink Midstream, LLC (NYSE:ENLC) during the first quarter. This acquisition includes 29,130 shares of the pipeline company’s stock, with an approximate value of $316,000.
EnLink Midstream (NYSE:ENLC) recently reported its quarterly earnings data on August 1st. The company revealed an EPS of $0.12 for the quarter, surpassing the consensus estimate of $0.11 by $0.01. EnLink Midstream also demonstrated a return on equity of 12.55% and a net margin of 4.41%. However, their revenue for the quarter was $1.53 billion, falling short of the consensus estimate of $1.91 billion. Sell-side analysts predict that EnLink Midstream, LLC will post an EPS of 0.52 for the current year.
Several analysts have weighed in on EnLink Midstream’s performance and prospects. JPMorgan Chase & Co., for instance, reduced their price objective from $13.00 to $12.00 in a report released on June 28th. Conversely, Wells Fargo & Company increased their price objective from $11.00 to $12.00 in another report published on August 4th.
UBS Group initiated coverage on EnLink Midstream in a report issued on June 26th and gave it a “buy” rating along with a target price of $14.00.
Similarly, StockNews.com began covering EnLink Midstream on August 17th and assigned it a “hold” rating.
Despite varying opinions among analysts, two have rated the stock as “hold” while five have given it a “buy” rating.
According to Bloomberg data based on analyst recommendations, EnLink Midstream currently possesses an average rating of “Moderate Buy” and a consensus target price of $13.88.
Overall, the acquisition made by US Bancorp DE signals a positive investment sentiment in EnLink Midstream, LLC. With the recent earnings report showing a slight beat on EPS estimates, investors will continue to analyze the company’s performance and monitor its ability to meet future financial expectations. The range of opinions among analysts illustrates a cautious yet optimistic outlook for the stock, providing investors with various perspectives to consider when evaluating their own investment decisions.
EnLink Midstream’s Stock and Investor Activity, Insider Trades, and Industry Developments
EnLink Midstream, LLC, a leading midstream energy services company, has recently witnessed various institutional investors adding or reducing their stakes in the company. Marshall Wace LLP, for instance, acquired a new position in EnLink Midstream during the 3rd quarter with an investment worth approximately $96,000. Similarly, Counterpoint Mutual Funds LLC bought a new stake in the company during the 1st quarter for around $101,000.
Ameritas Advisory Services LLC and Glenmede Trust Co. NA also joined this trend by acquiring new stakes worth approximately $106,000 each. Finally, Strategic Blueprint LLC bought a new stake in EnLink Midstream during the 1st quarter for about $115,000. As of now, institutional investors and hedge funds own around 44.94% of EnLink Midstream’s stock.
Starting off August 28th at an opening price of $12.31 per share on Monday, EnLink Midstream has seen fluctuations between its 12-month low of $8.04 and its 12-month high of $13.58. With a current ratio and quick ratio both at 0.98 and a debt-to-equity ratio of 1.67, this leading midstream energy services company maintains steady financial stability.
EnLink Midstream boasts a market capitalization of $5.68 billion with a price-to-earnings ratio of 16.64 and a beta of 2.53.
Analysts have weighed in on the outlook for EnLink Midstream as well. JPMorgan Chase & Co., for instance, decreased their price objective from $13 to $12 in their recent report dated June 28th. Conversely, Wells Fargo & Company raised their price objective from $11 to $12 on August 4th.
Furthermore, UBS Group initiated coverage on EnLink Midstream with a “buy” rating and set a target price of $14. StockNews.com, on the other hand, initiated coverage with a “hold” rating for the company. Stifel Nicolaus reduced their target price from $14.50 to $14 in their report dated May 4th.
Based on data from Bloomberg, EnLink Midstream’s stock holds an average rating of “Moderate Buy,” with a consensus target price of $13.88.
Additionally, EnLink Midstream recently announced a quarterly dividend that was paid out on August 11th to shareholders of record as of July 28th. The dividend was set at $0.125 per share, resulting in an annualized dividend yield of 4.06%. At present, EnLink Midstream’s dividend payout ratio stands at 67.57%.
In recent news about EnLink Midstream, Executive Vice President Alaina K. Brooks sold a significant number of shares in two separate transactions in August. On August 11th, she sold 35,023 shares at an average price of $12 per share, amounting to a total transaction value of $420,276. Following this sale, Brooks now holds 465,486 shares valued at $5,585,832.
Furthermore, she also sold 131,586 shares on August 9th at an average price of $12.13 per share for a total value of $1,596,138.18.
Overall in the last three months alone, corporate insiders have sold approximately 206,609 shares worth around $2,488,o14 – equivalent to approximately 0.84% ownership stake in the company.
As investors and analysts closely monitor EnLink Midstream’s performance and key developments within the industry landscape – including institutional investor activities and insider trades – it remains crucial to stay informed about these updates when making investment decisions in the midstream energy sector.
Source: beststocks.com
