EnLink Midstream, LLC (NYSE:ENLC) Forecasted to Post Q1 2024 Earnings of $0.15 Per Share

EnLink Midstream, LLC (NYSE:ENLCFree Report) – Research analysts at US Capital Advisors lowered their Q1 2024 EPS estimates for EnLink Midstream in a report released on Wednesday, March 20th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $0.15 for the quarter, down from their previous forecast of $0.19. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.63 per share. US Capital Advisors also issued estimates for EnLink Midstream’s Q2 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $0.68 EPS, Q1 2025 earnings at $0.22 EPS and Q2 2025 earnings at $0.19 EPS.

EnLink Midstream (NYSE:ENLCGet Free Report) last announced its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a net margin of 2.99% and a return on equity of 8.12%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion.

Several other equities research analysts have also commented on ENLC. JPMorgan Chase & Co. decreased their target price on shares of EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. UBS Group boosted their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, StockNews.com lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.33.

Check Out Our Latest Report on ENLC

EnLink Midstream Stock Performance

NYSE:ENLC opened at $13.17 on Thursday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 29.92 and a beta of 2.39. EnLink Midstream has a 1-year low of $8.45 and a 1-year high of $13.98. The firm’s fifty day moving average price is $12.31 and its 200 day moving average price is $12.44. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in EnLink Midstream by 240.5% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,500 shares of the pipeline company’s stock worth $4,530,000 after purchasing an additional 263,100 shares in the last quarter. Hennessy Advisors Inc. grew its stake in EnLink Midstream by 1,614.2% during the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after acquiring an additional 1,759,500 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in EnLink Midstream by 1.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after acquiring an additional 186,801 shares in the last quarter. DRW Securities LLC purchased a new position in EnLink Midstream during the 4th quarter valued at about $658,000. Finally, Legal & General Group Plc grew its stake in EnLink Midstream by 0.7% during the 4th quarter. Legal & General Group Plc now owns 212,310 shares of the pipeline company’s stock valued at $2,582,000 after acquiring an additional 1,550 shares in the last quarter. 44.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the sale, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the sale, the chief accounting officer now directly owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Benjamin D. Lamb sold 250,552 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total value of $3,026,668.16. Following the sale, the chief financial officer now directly owns 534,000 shares in the company, valued at $6,450,720. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

EnLink Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Monday, January 29th were paid a dividend of $0.1325 per share. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Friday, January 26th. EnLink Midstream’s dividend payout ratio is 120.46%.

About EnLink Midstream

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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.

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Earnings History and Estimates for EnLink Midstream (NYSE:ENLC)

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