EnLink Midstream (ENLC) to Release Quarterly Earnings on Tuesday

EnLink Midstream (NYSE:ENLC) is scheduled to post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect EnLink Midstream to post earnings of $0.14 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. 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 Up 0.8 %

ENLC stock opened at $13.89 on Friday. The firm’s fifty day simple moving average is $13.14 and its 200-day simple moving average is $12.68. The company has a market capitalization of $6.29 billion, a P/E ratio of 31.57 and a beta of 2.39. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84. EnLink Midstream has a 12 month low of $8.45 and a 12 month high of $14.18.

EnLink Midstream Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be issued a $0.132 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream’s dividend payout ratio (DPR) is currently 120.46%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup upped their price objective on shares of EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lowered their price target on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. UBS Group increased their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, Capital One Financial began coverage on shares of EnLink Midstream in a report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, EnLink Midstream currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at $6,450,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total transaction of $616,000.00. Following the transaction, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at $719,611.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the transaction, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The disclosure for this sale can be found here. 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.