EnLink Midstream (ENLC) to Release Earnings on Wednesday

EnLink Midstream (NYSE:ENLC - Get Free Report) will issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.14 per share for the quarter.

EnLink Midstream (NYSE:ENLC - Get Free Report) last posted 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 firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the company posted $0.12 EPS. The firm's revenue was up 1.4% compared to the same quarter last year. On average, analysts expect EnLink Midstream to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

EnLink Midstream Stock Performance

Shares of NYSE:ENLC traded up $0.06 during trading on Wednesday, hitting $14.90. The company's stock had a trading volume of 2,245,268 shares, compared to its average volume of 2,016,592. The company has a 50-day moving average of $14.41 and a 200-day moving average of $13.71. 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 firm has a market cap of $6.88 billion, a price-to-earnings ratio of 49.23 and a beta of 2.40. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $14.94.

EnLink Midstream Dividend Announcement

The firm 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 dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, November 1st. EnLink Midstream's dividend payout ratio is presently 176.67%.

Insider Transactions at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of EnLink Midstream stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENLC. Capital One Financial reissued an "equal weight" rating and set a $16.00 price target on shares of EnLink Midstream in a report on Tuesday, September 3rd. Stifel Nicolaus cut 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 note on Friday, August 30th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a "hold" rating to a "buy" rating and set a $15.00 price target for the company in a research report on Friday, August 16th. UBS Group downgraded shares of EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 price objective on the stock. in a research report on Monday, September 30th. Finally, Wells Fargo & Company downgraded shares of EnLink Midstream from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $16.00 to $15.00 in a report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.44.

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.