US Capital Advisors Comments on ENLC FY2024 Earnings

EnLink Midstream, LLC (NYSE:ENLC) – Analysts at US Capital Advisors decreased their FY2024 earnings per share estimates for shares of EnLink Midstream in a research report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $0.50 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 $0.51 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.

Several other equities analysts have also recently issued reports on the company. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Monday, September 30th. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a research report on Monday, September 16th. Raymond James cut EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Mizuho reiterated a “neutral” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, November 21st. Ten investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EnLink Midstream has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Down 0.4 %

ENLC opened at $15.85 on Wednesday. EnLink Midstream has a 12 month low of $11.53 and a 12 month high of $16.40. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $7.24 billion, a P/E ratio of 75.48 and a beta of 2.41. The stock’s 50 day moving average price is $14.99 and its 200 day moving average price is $14.01.

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

Hedge Funds Weigh In On EnLink Midstream

Several institutional investors have recently bought and sold shares of the stock. Chickasaw Capital Management LLC increased its stake in shares of EnLink Midstream by 5.5% in the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock worth $200,924,000 after purchasing an additional 759,994 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of EnLink Midstream by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,823,891 shares of the pipeline company’s stock worth $93,884,000 after purchasing an additional 133,327 shares during the period. Merewether Investment Management LP bought a new position in shares of EnLink Midstream in the third quarter worth about $64,477,000. Brookfield Corp ON increased its stake in shares of EnLink Midstream by 97.1% in the third quarter. Brookfield Corp ON now owns 3,603,351 shares of the pipeline company’s stock worth $52,285,000 after purchasing an additional 1,775,203 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of EnLink Midstream by 32.4% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock worth $48,236,000 after purchasing an additional 812,767 shares during the period. 45.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.84% of the company’s stock.

EnLink Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.1325 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.34%. EnLink Midstream’s dividend payout ratio (DPR) is currently 252.38%.

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.