5 Dividend Stocks For Beginners

1. EnLink Midstream, LLC (NYSE:ENLC)

Dividend Yield as of May 6: 4.27%

Number of Hedge Fund Holders: 8

EnLink Midstream, LLC (NYSE:ENLC) is a Texas-based midstream energy company that deals in natural gas, crude oil, and natural gas liquids. The company also offers brine disposal services. EnLink Midstream, LLC (NYSE:ENLC)’s dividend yield on May 6 was 4.27%. 

On April 19, EnLink Midstream, LLC (NYSE:ENLC) declared a $0.1125 per share quarterly dividend, in line with previous. The dividend is payable on May 13, to shareholders of the company as of the close of business on April 29. 

EnLink Midstream, LLC (NYSE:ENLC) reported its Q1 results on May 3, posting earnings per share of $0.13, beating estimates by $0.03. Revenue for the period increased 78.44% year-over-year to $2.23 billion, surpassing analysts’ predictions by $493.15 million. 

Raymond James analyst Justin Jenkins on May 4 reiterated an Outperform rating on EnLink Midstream, LLC (NYSE:ENLC) and raised the price target on the shares to $12 from $11 following the “impressive beat and raise” in Q1. The analyst believes EnLink Midstream, LLC (NYSE:ENLC)’s relative valuation should improve, resulting in an attractive total return value proposition.

According to Insider Monkey’s Q4 data, 8 hedge funds were bullish on EnLink Midstream, LLC (NYSE:ENLC), with combined stakes of $20.3 million. Ken Griffin’s Citadel Investment Group is the leading shareholder of the company, with 1.4 million shares worth $10 million. 

You can also take a look at 10 LNG Shipping Stocks to Buy Now and 12 Best US Stocks to Buy Now.

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