EnLink Midstream (ENLC) to Release Quarterly Earnings on Wednesday

EnLink Midstream (NYSE:ENLC) will be issuing its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.14 per share for the quarter.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the business posted $0.12 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts expect EnLink Midstream to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

EnLink Midstream Price Performance

Shares of NYSE ENLC opened at $14.86 on Wednesday. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $14.87. The firm’s 50-day simple moving average is $14.41 and its 200 day simple moving average is $13.71. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The stock has a market cap of $6.86 billion, a P/E ratio of 49.53 and a beta of 2.40.

EnLink Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, November 1st. EnLink Midstream’s dividend payout ratio is currently 176.67%.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ENLC. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Friday, August 30th. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, August 16th. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EnLink Midstream presently has a consensus rating of “Hold” and an average price target of $15.44.

EnLink Midstream Company 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.