EnLink Midstream (NYSE:ENLC) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

EnLink Midstream (NYSE:ENLC) released its quarterly earnings data on Tuesday. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06), Briefing.com reports. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.09%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS.

EnLink Midstream Trading Down 1.9 %

Shares of NYSE:ENLC traded down $0.23 during trading on Friday, reaching $11.96. 2,462,278 shares of the company traded hands, compared to its average volume of 1,959,163. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 34.17 and a beta of 2.43. The business’s fifty day moving average is $13.45 and its 200-day moving average is $13.10. EnLink Midstream has a 52-week low of $11.44 and a 52-week high of $14.38.

EnLink Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd 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 4.43%. The ex-dividend date is Friday, August 2nd. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio is 151.43%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup lifted their price target on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. StockNews.com downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a report on Monday. Finally, Wells Fargo & Company raised shares of EnLink Midstream from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $13.00 to $17.00 in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.33.

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.