EnLink Midstream LLC (NYSE:ENLC) announced a quarterly dividend on Wednesday, January 15th, Zacks reports. Investors of record on Friday, January 31st will be given a dividend of 0.188 per share by the pipeline company on Thursday, February 13th. This represents a $0.75 annualized dividend and a yield of 12.71%. The ex-dividend date is Thursday, January 30th.
EnLink Midstream has raised its dividend by an average of 0.0% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. EnLink Midstream has a dividend payout ratio of -1,255.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect EnLink Midstream to earn $0.21 per share next year, which means the company may not be able to cover its $1.13 annual dividend with an expected future payout ratio of 538.1%.
NYSE:ENLC traded up $0.07 during trading hours on Friday, hitting $5.92. The company’s stock had a trading volume of 980,644 shares, compared to its average volume of 7,449,961. The stock has a fifty day simple moving average of $5.55 and a 200-day simple moving average of $7.32. The company has a market capitalization of $2.80 billion, a P/E ratio of -84.50, a PEG ratio of 6.92 and a beta of 2.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.95 and a quick ratio of 0.95. EnLink Midstream has a twelve month low of $4.33 and a twelve month high of $13.10.
EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.77 billion. EnLink Midstream had a negative net margin of 3.48% and a negative return on equity of 0.09%. The business’s quarterly revenue was down 33.4% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. On average, equities analysts predict that EnLink Midstream will post 0.19 EPS for the current fiscal year.
ENLC has been the topic of several research analyst reports. Wells Fargo & Co lowered EnLink Midstream from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, January 7th. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Tuesday, October 8th. Royal Bank of Canada reduced their price objective on EnLink Midstream from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays reaffirmed a “neutral” rating on shares of EnLink Midstream in a research note on Wednesday, November 20th. Finally, Zacks Investment Research raised EnLink Midstream from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. EnLink Midstream currently has a consensus rating of “Hold” and a consensus price target of $9.63.
In other EnLink Midstream news, Director Kyle D. Vann purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average price of $4.87 per share, with a total value of $48,700.00. Following the completion of the purchase, the director now owns 124,907 shares of the company’s stock, valued at $608,297.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.45% of the company’s stock.
EnLink Midstream Company Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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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