Westwood Holdings Group Inc. Has $30.63 Million Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Westwood Holdings Group Inc. boosted its stake in shares of EnLink Midstream, LLC (NYSE:ENLC) by 22.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,245,529 shares of the pipeline company’s stock after buying an additional 416,424 shares during the period. Westwood Holdings Group Inc.’s holdings in EnLink Midstream were worth $30,629,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Capital Advisors LP raised 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 acquiring an additional 111,300 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of EnLink Midstream in the 1st quarter valued at about $873,000. Hennessy Advisors Inc. boosted its position in shares of EnLink Midstream by 13.3% during the first quarter. Hennessy Advisors Inc. now owns 2,116,600 shares of the pipeline company’s stock worth $28,870,000 after buying an additional 248,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of EnLink Midstream by 240.5% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,500 shares of the pipeline company’s stock worth $4,530,000 after buying an additional 263,100 shares during the period. Finally, Miller Howard Investments Inc. NY grew its holdings in shares of EnLink Midstream by 3.3% during the first quarter. Miller Howard Investments Inc. NY now owns 2,160,476 shares of the pipeline company’s stock worth $29,469,000 after buying an additional 68,877 shares in the last quarter. Institutional investors own 45.87% of the company’s stock.

EnLink Midstream Stock Performance

Shares of ENLC traded down $0.47 during midday trading on Friday, reaching $12.99. The stock had a trading volume of 2,382,522 shares, compared to its average volume of 1,762,978. The firm has a market cap of $5.86 billion, a PE ratio of 37.13 and a beta of 2.43. The firm has a 50 day simple moving average of $13.46 and a 200-day simple moving average of $13.08. EnLink Midstream, LLC has a one year low of $11.44 and a one year high of $14.38. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.79 billion. EnLink Midstream had a return on equity of 8.58% and a net margin of 2.40%. As a group, sell-side analysts anticipate that EnLink Midstream, LLC will post 0.65 EPS for the current year.

EnLink Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd will be paid a dividend of $0.1325 per share. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Friday, August 2nd. EnLink Midstream’s payout ratio is currently 151.43%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ENLC. Wells Fargo & Company raised EnLink Midstream from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $17.00 in a research report on Monday, July 8th. Citigroup increased their target price on shares of EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, EnLink Midstream has an average rating of “Moderate Buy” and a consensus target price of $15.33.

EnLink Midstream 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.