EnLink Midstream (ENLC) to Release Quarterly Earnings on Tuesday

EnLink Midstream (NYSE:ENLC) is set to announce its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. 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 company has a fifty day moving average price of $13.14 and a 200 day moving average price of $12.68. EnLink Midstream has a 12 month low of $8.45 and a 12 month high of $14.18. The company has a market cap of $6.29 billion, a price-to-earnings 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 Cuts Dividend

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

Insider Transactions at EnLink Midstream

In other news, CFO Benjamin D. Lamb sold 250,552 shares of the company’s 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 approximately $6,450,720. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s 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 approximately $719,611.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was 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. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.