EnLink Midstream (ENLC) to Release Earnings on Tuesday

EnLink Midstream (NYSE:ENLC) is set to issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share 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 during the quarter, compared to the consensus estimate of $1.82 billion. 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 Trading Up 0.5 %

Shares of NYSE:ENLC opened at $13.66 on Tuesday. The stock has a market capitalization of $6.19 billion, a PE ratio of 31.03 and a beta of 2.39. The company’s 50-day moving average price is $13.01 and its two-hundred day moving average price is $12.64. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.84 and a quick ratio of 0.84. EnLink Midstream has a one year low of $8.45 and a one year high of $14.18.

EnLink Midstream Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, April 26th will be issued a dividend of $0.132 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.53 annualized dividend and a yield of 3.87%. EnLink Midstream’s payout ratio is presently 120.46%.

Wall Street Analysts Forecast Growth

ENLC has been the topic of several recent analyst reports. Citigroup boosted their price target on EnLink Midstream from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price target 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. Capital One Financial assumed coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They issued an “overweight” rating and a $15.00 price objective for the company. UBS Group upped their target price on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.63.

Insiders Place Their Bets

In other 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 value of $616,000.00. Following the transaction, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at $719,611.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other EnLink Midstream news, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the 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 transaction, the chief accounting officer now owns 58,410 shares in the company, valued at approximately $719,611.20. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

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.