LVW Advisors LLC acquired a new stake in EnLink Midstream Partners LP (NYSE:ENLK) during the 3rd quarter, HoldingsChannel reports. The firm acquired 11,975 shares of the oil and gas producer’s stock, valued at approximately $223,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in EnLink Midstream Partners by 38.4% in the first quarter. Wells Fargo & Company MN now owns 162,414 shares of the oil and gas producer’s stock worth $2,218,000 after purchasing an additional 45,094 shares during the period. BlackRock Inc. raised its holdings in EnLink Midstream Partners by 0.8% in the first quarter. BlackRock Inc. now owns 526,761 shares of the oil and gas producer’s stock worth $7,196,000 after purchasing an additional 4,074 shares during the period. Principal Financial Group Inc. raised its holdings in EnLink Midstream Partners by 2.5% in the first quarter. Principal Financial Group Inc. now owns 4,152,195 shares of the oil and gas producer’s stock worth $56,719,000 after purchasing an additional 100,723 shares during the period. Bank of Montreal Can bought a new stake in shares of EnLink Midstream Partners during the second quarter worth $31,271,000. Finally, Ballentine Partners LLC increased its position in shares of EnLink Midstream Partners by 87.0% during the second quarter. Ballentine Partners LLC now owns 54,823 shares of the oil and gas producer’s stock worth $851,000 after acquiring an additional 25,503 shares in the last quarter. Institutional investors and hedge funds own 41.67% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. TheStreet downgraded shares of EnLink Midstream Partners from a “b-” rating to a “c+” rating in a research report on Monday. Morgan Stanley set a $20.00 price objective on shares of EnLink Midstream Partners and gave the stock a “hold” rating in a research report on Friday, November 2nd. Raymond James reissued a “market perform” rating on shares of EnLink Midstream Partners in a research report on Tuesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price objective on shares of EnLink Midstream Partners in a research report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. reissued a “market perform” rating on shares of EnLink Midstream Partners in a research report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $17.79.
EnLink Midstream Partners (NYSE:ENLK) last released its earnings results on Tuesday, November 6th. The oil and gas producer reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.86 billion. EnLink Midstream Partners had a net margin of 3.89% and a return on equity of 6.41%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. On average, research analysts anticipate that EnLink Midstream Partners LP will post 0.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Monday, October 29th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 10.66%. The ex-dividend date of this dividend is Friday, October 26th. EnLink Midstream Partners’s dividend payout ratio (DPR) is currently 5,200.00%.
In other news, major shareholder Goldman Sachs Group Inc purchased 16,700 shares of the business’s stock in a transaction on Friday, October 19th. The stock was purchased at an average price of $18.26 per share, for a total transaction of $304,942.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.
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EnLink Midstream Partners Profile
EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.
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