US Capital Advisors Forecasts ENLC FY2024 Earnings

EnLink Midstream, LLC (NYSE:ENLC) – Research analysts at US Capital Advisors reduced their FY2024 earnings estimates for EnLink Midstream in a report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $0.50 per share for the year, down from their previous forecast of $0.63. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.55 per share. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2024 earnings at $0.24 EPS and Q4 2025 earnings at $0.28 EPS.

ENLC has been the subject of a number of other reports. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research note on Monday, September 30th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, August 16th. Mizuho restated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $16.00 to $15.00 in a research report on Friday, August 30th. Ten investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.40.

EnLink Midstream Stock Down 0.4 %

Shares of ENLC opened at $15.85 on Wednesday. The firm has a market capitalization of $7.24 billion, a P/E ratio of 75.48 and a beta of 2.41. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $16.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30. The firm has a fifty day moving average price of $14.96 and a 200-day moving average price of $13.99.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share.

EnLink Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.1325 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.34%. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

Insider Activity at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On EnLink Midstream

Several institutional investors have recently added to or reduced their stakes in ENLC. Tidal Investments LLC increased its stake in EnLink Midstream by 9.7% during the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 1,623 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in EnLink Midstream during the third quarter worth about $98,000. Sanctuary Advisors LLC increased its stake in EnLink Midstream by 8.5% during the third quarter. Sanctuary Advisors LLC now owns 30,031 shares of the pipeline company’s stock worth $473,000 after acquiring an additional 2,362 shares during the last quarter. Zimmer Partners LP acquired a new stake in EnLink Midstream during the third quarter worth about $363,000. Finally, Brookfield Corp ON increased its stake in EnLink Midstream by 97.1% during the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock worth $52,285,000 after acquiring an additional 1,775,203 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.