EnLink Midstream, LLC (NYSE:ENLC) to Post Q4 2024 Earnings of $0.22 Per Share, US Capital Advisors Forecasts

EnLink Midstream, LLC (NYSE:ENLC) – Equities research analysts at US Capital Advisors boosted their Q4 2024 earnings estimates for shares of EnLink Midstream in a research note issued on Monday, July 29th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $0.22 for the quarter, up from their prior forecast of $0.21. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.65 per share.

ENLC has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price 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. Citigroup lifted their target price 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. Wells Fargo & Company raised shares of EnLink Midstream from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $17.00 in a research note on Monday, July 8th. Finally, StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.33.

EnLink Midstream Price Performance

Shares of EnLink Midstream stock opened at $13.00 on Thursday. The company’s fifty day simple moving average is $13.46 and its two-hundred day simple moving average is $13.08. The firm has a market cap of $5.86 billion, a PE ratio of 37.13 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 quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. EnLink Midstream had a net margin of 2.40% and a return on equity of 8.58%.

EnLink Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, August 2nd will be paid a dividend of $0.1325 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $0.53 annualized dividend and a yield of 4.08%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s payout ratio is presently 151.43%.

Institutional Investors Weigh In On EnLink Midstream

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in EnLink Midstream by 73.8% in the second quarter. Van ECK Associates Corp now owns 63,465 shares of the pipeline company’s stock worth $873,000 after buying an additional 26,952 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in EnLink Midstream by 52.3% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 82,336 shares of the pipeline company’s stock worth $1,133,000 after buying an additional 28,264 shares during the last quarter. Callahan Advisors LLC raised its holdings in EnLink Midstream by 8.7% in the second quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock worth $172,000 after buying an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in EnLink Midstream by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,703 shares of the pipeline company’s stock worth $766,000 after buying an additional 2,213 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its holdings in EnLink Midstream by 4.3% in the second quarter. Miller Howard Investments Inc. NY now owns 2,254,063 shares of the pipeline company’s stock worth $31,016,000 after buying an additional 93,587 shares during the last quarter. Institutional investors own 45.87% of the company’s stock.

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.