EnLink Midstream, LLC (NYSE:ENLC) to Post Q2 2023 Earnings of $0.13 Per Share, US Capital Advisors Forecasts

EnLink Midstream, LLC (NYSE:ENLC – Get Rating) – Analysts at US Capital Advisors dropped their Q2 2023 earnings per share (EPS) estimates for EnLink Midstream in a report issued on Friday, May 19th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $0.13 for the quarter, down from their previous forecast of $0.14. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.53 per share. US Capital Advisors also issued estimates for EnLink Midstream’s Q3 2023 earnings at $0.15 EPS, Q4 2023 earnings at $0.19 EPS, FY2023 earnings at $0.59 EPS, Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.18 EPS, FY2024 earnings at $0.77 EPS and FY2025 earnings at $0.81 EPS.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley lowered their price target on EnLink Midstream from $18.00 to $17.00 in a report on Tuesday, April 25th. StockNews.com began coverage on EnLink Midstream in a report on Thursday. They set a “hold” rating on the stock. Raymond James lowered their target price on EnLink Midstream from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, February 16th. Citigroup upgraded EnLink Midstream from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Thursday, March 9th. Finally, Stifel Nicolaus decreased their price objective on EnLink Midstream from $14.50 to $14.00 in a report on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.33.

EnLink Midstream Stock Down 0.1 %

ENLC opened at $9.88 on Monday. The business’s 50-day simple moving average is $10.04 and its 200-day simple moving average is $11.45. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.21 and a current ratio of 1.21. EnLink Midstream has a one year low of $7.77 and a one year high of $13.58. The stock has a market capitalization of $4.60 billion, a P/E ratio of 12.51 and a beta of 2.55.

EnLink Midstream (NYSE:ENLC – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The pipeline company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $2.17 billion. EnLink Midstream had a return on equity of 13.48% and a net margin of 4.23%.

Institutional Trading of EnLink Midstream

Hedge funds have recently modified their holdings of the stock. MADDEN SECURITIES Corp acquired a new stake in shares of EnLink Midstream during the fourth quarter worth $28,000. Newbridge Financial Services Group Inc. acquired a new stake in EnLink Midstream in the 4th quarter worth about $38,000. CWM LLC raised its position in shares of EnLink Midstream by 45.2% in the 3rd quarter. CWM LLC now owns 3,291 shares of the pipeline company’s stock valued at $29,000 after buying an additional 1,025 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of EnLink Midstream during the 1st quarter valued at approximately $101,000. Finally, Ameritas Advisory Services LLC bought a new stake in EnLink Midstream during the 1st quarter worth approximately $106,000. 44.37% of the stock is owned by institutional investors.

Insider Activity at EnLink Midstream

In other news, CFO Benjamin D. Lamb sold 210,000 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $11.38, for a total transaction of $2,389,800.00. Following the completion of the transaction, the chief financial officer now owns 497,107 shares of the company’s stock, valued at $5,657,077.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is owned by company insiders.

EnLink Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Friday, April 28th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.06%. The ex-dividend date was Thursday, April 27th. EnLink Midstream’s payout ratio is presently 63.29%.

About EnLink Midstream

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EnLink Midstream LLC engages in transmission, processing and marketing of natural gas and crude oil. It operates through the following segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The Permian segment includes natural gas gathering, processing, and transmission activities and crude oil operations in the Midland and Delaware Basins in West Texas and Eastern New Mexico and crude operations in South Texas.