Q3 2024 EPS Estimates for EnLink Midstream, LLC (NYSE:ENLC) Lowered by Analyst

EnLink Midstream, LLC (NYSE:ENLC) – Stock analysts at Capital One Financial decreased their Q3 2024 EPS estimates for EnLink Midstream in a research report issued to clients and investors on Thursday, September 19th. Capital One Financial analyst W. Suki now expects that the pipeline company will post earnings of $0.11 per share for the quarter, down from their prior forecast of $0.12. Capital One Financial has a “Equal Weight” rating and a $16.00 price target on the stock. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.59 per share. Capital One Financial also issued estimates for EnLink Midstream’s FY2025 earnings at $0.65 EPS.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data 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). The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 earnings per share.

A number of other equities research analysts have also recently commented on ENLC. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, August 29th. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Friday, August 30th. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Tudor Pickering raised shares of EnLink Midstream to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Morgan Stanley downgraded shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EnLink Midstream currently has a consensus rating of “Moderate Buy” and an average price target of $15.33.

EnLink Midstream Stock Up 0.5 %

NYSE:ENLC opened at $14.70 on Monday. The company’s 50-day simple moving average is $13.68 and its 200-day simple moving average is $13.47. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.65 and a current ratio of 0.65. EnLink Midstream has a fifty-two week low of $11.44 and a fifty-two week high of $14.80. The stock has a market capitalization of $6.63 billion, a P/E ratio of 42.00 and a beta of 2.40.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new stake in shares of EnLink Midstream during the 4th quarter valued at about $375,000. UBS Group AG raised its position in EnLink Midstream by 6.9% during the fourth quarter. UBS Group AG now owns 1,648,879 shares of the pipeline company’s stock worth $20,050,000 after acquiring an additional 106,523 shares during the period. Wells Fargo & Company MN lifted its holdings in EnLink Midstream by 56.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,034,809 shares of the pipeline company’s stock valued at $12,583,000 after purchasing an additional 373,969 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of EnLink Midstream by 1.3% in the fourth quarter. Allianz Asset Management GmbH now owns 2,100,600 shares of the pipeline company’s stock valued at $25,543,000 after purchasing an additional 26,700 shares during the period. Finally, Boulder Hill Capital Management LP purchased a new stake in shares of EnLink Midstream during the fourth quarter worth about $582,000. 45.87% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were given a dividend of $0.1325 per share. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, August 2nd. EnLink Midstream’s dividend payout ratio (DPR) is currently 151.43%.

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.