Capital One Financial Weighs in on EnLink Midstream, LLC’s Q3 2024 Earnings (NYSE:ENLC)

EnLink Midstream, LLC (NYSE:ENLC) – Analysts at Capital One Financial decreased their Q3 2024 earnings per share estimates for EnLink Midstream in a research report issued on Thursday, September 19th. Capital One Financial analyst W. Suki now expects that the pipeline company will post earnings of $0.11 per share for the quarter, down from their previous forecast of $0.12. Capital One Financial currently has a “Equal Weight” rating and a $16.00 target price on the stock. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.59 per share. Capital One Financial also issued estimates for EnLink Midstream’s FY2025 earnings at $0.65 EPS.

ENLC has been the subject of several other research reports. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Stifel Nicolaus downgraded EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research note on Friday, August 30th. Morgan Stanley downgraded EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research report on Monday, September 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, August 29th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

EnLink Midstream Stock Performance

ENLC opened at $14.60 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 41.71 and a beta of 2.40. The company has a fifty day moving average of $13.69 and a 200 day moving average of $13.48. EnLink Midstream has a fifty-two week low of $11.44 and a fifty-two week high of $14.80.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share.

EnLink Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were given a $0.1325 dividend. The ex-dividend date was Friday, August 2nd. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 dividend on an annualized basis and a yield of 3.63%. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors have recently made changes to their positions in the company. ORG Partners LLC purchased a new stake in EnLink Midstream in the 2nd quarter worth about $28,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of EnLink Midstream in the second quarter worth approximately $56,000. Sunbelt Securities Inc. lifted its stake in shares of EnLink Midstream by 24.2% during the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock worth $94,000 after acquiring an additional 1,343 shares during the last quarter. SG Americas Securities LLC purchased a new position in EnLink Midstream during the 1st quarter valued at $105,000. Finally, First Horizon Advisors Inc. grew its position in EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 853 shares during 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.