EnLink Midstream (ENLC) to Release Quarterly Earnings on Wednesday

EnLink Midstream (NYSE:ENLC) is scheduled to issue 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 released 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). The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. EnLink Midstream’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $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 Trading Up 1.0 %

Shares of ENLC stock opened at $14.86 on Wednesday. The firm has a market cap of $6.86 billion, a P/E ratio of 49.53 and a beta of 2.40. EnLink Midstream has a 1-year low of $11.53 and a 1-year high of $14.87. 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 firm’s 50-day simple moving average is $14.41 and its 200-day simple moving average is $13.71.

EnLink Midstream Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ENLC. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $16.00 to $15.00 in a report on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Monday, September 30th. Finally, Capital One Financial reaffirmed an “equal weight” rating and issued a $16.00 price objective on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, EnLink Midstream has an average rating of “Hold” and a consensus target price of $15.44.

Insider Transactions at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.