EnLink Midstream, LLC (NYSE:ENLC – Get Free Report) announced a quarterly dividend on Tuesday, July 23rd, NASDAQ reports. Investors of record on Friday, August 2nd will be paid a dividend of 0.1325 per share by the pipeline company on Wednesday, August 14th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Friday, August 2nd. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13.
EnLink Midstream has raised its dividend payment by an average of 2.2% per year over the last three years. EnLink Midstream has a payout ratio of 70.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect EnLink Midstream to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 72.6%.
EnLink Midstream Stock Down 2.6 %
Shares of NYSE:ENLC traded down $0.37 during midday trading on Wednesday, reaching $13.77. 1,026,527 shares of the company were exchanged, compared to its average volume of 1,891,429. EnLink Midstream has a fifty-two week low of $10.91 and a fifty-two week high of $14.38. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. The stock has a fifty day simple moving average of $13.41 and a two-hundred day simple moving average of $13.02. The firm has a market cap of $6.21 billion, a PE ratio of 40.37 and a beta of 2.43.
Analysts Set New Price Targets
ENLC has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upgraded shares of EnLink Midstream from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $17.00 in a research note on Monday, July 8th. Finally, 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 note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.33.
Get Our Latest Research Report on ENLC
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.
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