US Capital Advisors Comments on ENLC FY2024 Earnings

EnLink Midstream, LLC (NYSE:ENLC) – Equities research analysts at US Capital Advisors cut their FY2024 EPS estimates for shares of EnLink Midstream in a report released on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $0.50 per share for the year, down from their previous estimate of $0.63. US Capital Advisors currently has a “Hold” rating on the stock. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.55 per share. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS and Q4 2025 earnings at $0.28 EPS.

A number of other equities analysts have also recently weighed in on the stock. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. Capital One Financial reiterated an “equal weight” rating and set a $16.00 target price on shares of EnLink Midstream in a report on Tuesday, September 3rd. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Monday, September 30th. Finally, StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Trading Up 2.0 %

Shares of ENLC stock opened at $15.91 on Wednesday. EnLink Midstream has a 1-year low of $11.53 and a 1-year high of $16.40. The firm has a market cap of $7.27 billion, a PE ratio of 75.76 and a beta of 2.41. The company has a 50-day moving average of $14.94 and a two-hundred day moving average of $13.98. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.98 billion. EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS.

Institutional Trading of EnLink Midstream

A number of large investors have recently bought and sold shares of the business. Tidal Investments LLC raised its holdings in shares of EnLink Midstream by 9.7% in the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock valued at $266,000 after buying an additional 1,623 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of EnLink Midstream during the third quarter worth about $98,000. Sanctuary Advisors LLC increased its position in EnLink Midstream by 8.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock valued at $473,000 after acquiring an additional 2,362 shares during the period. Zimmer Partners LP purchased a new stake in EnLink Midstream during the 3rd quarter valued at approximately $363,000. Finally, Brookfield Corp ON grew its stake in shares of EnLink Midstream by 97.1% in the 3rd quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock valued at $52,285,000 after purchasing an additional 1,775,203 shares during the last quarter. Institutional investors and hedge funds own 45.87% of the company’s stock.

Insider Activity

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

EnLink Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.1325 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.33%. EnLink Midstream’s dividend payout ratio is currently 252.38%.

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.