Q3 Earnings Forecast for ENLC Issued By US Capital Advisors

EnLink Midstream, LLC (NYSE:ENLC - Free Report) - Research analysts at US Capital Advisors boosted their Q3 2024 earnings per share (EPS) estimates for shares of EnLink Midstream in a report released on Monday, October 28th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.18 per share for the quarter, up from their previous estimate of $0.17. The consensus estimate for EnLink Midstream's current full-year earnings is $0.58 per share. US Capital Advisors also issued estimates for EnLink Midstream's Q4 2025 earnings at $0.26 EPS.

EnLink Midstream (NYSE:ENLC - Get Free Report) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the firm posted $0.12 EPS. The company's revenue was up 1.4% on a year-over-year basis.

A number of other equities analysts also recently commented on the company. UBS Group downgraded EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 target price for the company. in a report on Monday, September 30th. StockNews.com raised EnLink Midstream from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. Morgan Stanley cut EnLink Midstream from an "overweight" rating to an "equal weight" rating and set a $16.00 price target on the stock. in a research note on Monday, September 16th. Royal Bank of Canada reissued a "sector perform" rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, August 29th. Finally, Stifel Nicolaus downgraded shares of EnLink Midstream from a "buy" rating to a "hold" rating and set a $15.00 target price on the stock. in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.44.

EnLink Midstream Price Performance

ENLC remained flat at $14.84 during trading on Wednesday. 166,926 shares of the company's stock traded hands, compared to its average volume of 2,006,695. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50-day moving average price of $14.41 and a 200-day moving average price of $13.71. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 49.23 and a beta of 2.40. EnLink Midstream has a fifty-two week low of $11.53 and a fifty-two week high of $14.87.

Institutional Investors Weigh In On EnLink Midstream

A number of institutional investors have recently added to or reduced their stakes in ENLC. ORG Partners LLC bought a new position in shares of EnLink Midstream during the 2nd quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. acquired a new stake in EnLink Midstream during the 2nd quarter worth about $56,000. SG Americas Securities LLC purchased a new stake in shares of EnLink Midstream during the 1st quarter worth about $105,000. First Horizon Advisors Inc. increased its holdings 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 worth $106,000 after acquiring an additional 853 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company's stock valued at $116,000 after purchasing an additional 1,511 shares during the period. 45.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total value of $2,985,077,219.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

EnLink Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.1325 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.57%. EnLink Midstream's dividend payout ratio (DPR) is currently 176.67%.

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.