EnLink Midstream (ENLC) Set to Announce Quarterly Earnings on Wednesday

EnLink Midstream (NYSE:ENLC) is set to post its quarterly earnings results 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 posted 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). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the firm posted $0.12 EPS. The company’s revenue for the quarter 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

NYSE ENLC opened at $14.94 on Tuesday. The company has a market cap of $6.89 billion, a PE ratio of 49.80 and a beta of 2.41. EnLink Midstream has a 52-week low of $11.53 and a 52-week high of $14.96. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $14.54 and its 200-day moving average price is $13.75.

EnLink Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a $0.1325 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.55%. EnLink Midstream’s dividend payout ratio is presently 176.67%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, August 29th. Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Tudor, Pickering, Holt & Co. upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, August 16th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a report on Monday, September 30th. Finally, Capital One Financial reissued an “equal weight” rating and issued a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EnLink Midstream has an average rating of “Hold” and a consensus target price of $15.40.

Insider Transactions at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’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 sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.84% of the company’s stock.

About EnLink Midstream

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.