Capital One Financial Equities Analysts Reduce Earnings Estimates for EnLink Midstream, LLC (NYSE:ENLC)

EnLink Midstream, LLC (NYSE:ENLC) – Equities researchers at Capital One Financial reduced their FY2024 earnings per share estimates for EnLink Midstream in a research note issued on Wednesday, August 7th. Capital One Financial analyst W. Suki now forecasts that the pipeline company will post earnings of $0.44 per share for the year, down from their prior forecast of $0.57. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.65 per share. Capital One Financial also issued estimates for EnLink Midstream’s FY2025 earnings at $0.72 EPS.

ENLC has been the topic of several other reports. Citigroup upped their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. StockNews.com lowered EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company raised EnLink Midstream from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $13.00 to $17.00 in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.33.

EnLink Midstream Stock Down 2.1 %

Shares of EnLink Midstream stock opened at $11.94 on Friday. The stock’s fifty day moving average is $13.43 and its 200-day moving average is $13.10. The firm has a market capitalization of $5.39 billion, a PE ratio of 34.11 and a beta of 2.43. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. EnLink Midstream has a 12-month low of $11.44 and a 12-month high of $14.38.

EnLink Midstream (NYSE:ENLC) last announced 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 company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a return on equity of 8.09% and a net margin of 2.15%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share.

EnLink Midstream Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Friday, August 2nd. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s dividend payout ratio is 151.43%.

Institutional Trading of EnLink Midstream

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in EnLink Midstream by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock valued at $93,884,000 after purchasing an additional 133,327 shares during the period. American Century Companies Inc. grew its holdings in shares of EnLink Midstream by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 1,586,315 shares of the pipeline company’s stock worth $21,828,000 after purchasing an additional 10,296 shares in the last quarter. First Dallas Securities Inc. grew its holdings in shares of EnLink Midstream by 0.6% during the 2nd quarter. First Dallas Securities Inc. now owns 158,598 shares of the pipeline company’s stock worth $2,182,000 after purchasing an additional 960 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of EnLink Midstream by 73.8% during the 2nd quarter. Van ECK Associates Corp now owns 63,465 shares of the pipeline company’s stock worth $873,000 after purchasing an additional 26,952 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in shares of EnLink Midstream by 52.3% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 82,336 shares of the pipeline company’s stock worth $1,133,000 after purchasing an additional 28,264 shares in the last quarter. Institutional investors own 45.87% 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.