EnLink Midstream (NYSE:ENLC) Announces Earnings Results, Misses Expectations By $0.06 EPS

EnLink Midstream (NYSE:ENLC) announced its quarterly earnings results on Tuesday. The pipeline company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06), Briefing.com reports. EnLink Midstream had a return on equity of 8.09% and a net margin of 2.15%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the firm earned $0.12 EPS. EnLink Midstream’s quarterly revenue was up 1.4% on a year-over-year basis.

EnLink Midstream Trading Down 1.9 %

NYSE:ENLC traded down $0.23 during trading hours on Friday, hitting $11.96. 2,462,278 shares of the stock were exchanged, compared to its average volume of 1,959,163. The company’s 50 day moving average is $13.45 and its two-hundred day moving average is $13.10. EnLink Midstream has a twelve month low of $11.44 and a twelve month 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 company has a market capitalization of $5.40 billion, a P/E ratio of 34.17 and a beta of 2.43.

EnLink Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd will be issued a $0.1325 dividend. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, August 2nd. EnLink Midstream’s payout ratio is presently 151.43%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ENLC shares. Wells Fargo & Company raised EnLink Midstream from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $13.00 to $17.00 in a research report on Monday, July 8th. JPMorgan Chase & Co. boosted their price objective on EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. StockNews.com cut EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Citigroup boosted their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EnLink Midstream currently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

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.