EnLink Midstream (ENLC) Scheduled to Post Quarterly Earnings on Wednesday

EnLink Midstream (NYSE:ENLC) is set to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect EnLink Midstream to post earnings of $0.14 per share for the quarter.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. 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 Stock Performance

Shares of NYSE:ENLC opened at $14.71 on Monday. The firm has a market capitalization of $6.79 billion, a PE ratio of 49.03 and a beta of 2.41. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50-day moving average of $14.51 and a two-hundred day moving average of $13.74. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $14.96.

EnLink Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.1325 per share. The ex-dividend date is Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.60%. EnLink Midstream’s dividend payout ratio is presently 176.67%.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ENLC has been the subject of a number of recent research reports. Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a research note on Friday, August 16th. Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.00 to $15.00 in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their target price on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Friday, August 30th. Finally, Mizuho reiterated a “neutral” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.40.

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.