EnLink Midstream, LLC (NYSE:ENLC) Announces Quarterly Dividend of $0.13

EnLink Midstream, LLC (NYSE:ENLC) announced a quarterly dividend on Monday, October 14th, NASDAQ reports. Stockholders of record on Friday, November 1st will be paid a dividend of 0.1325 per share by the pipeline company on Thursday, November 14th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, November 1st.

EnLink Midstream has increased its dividend by an average of 2.2% annually over the last three years. EnLink Midstream has a dividend payout ratio of 71.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect EnLink Midstream to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 75.7%.

EnLink Midstream Stock Down 0.6 %

Shares of EnLink Midstream stock opened at $14.61 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. The business’s 50 day simple moving average is $13.97 and its 200-day simple moving average is $13.64. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 48.68 and a beta of 2.40. EnLink Midstream has a twelve month low of $11.53 and a twelve month high of $14.80.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. Equities research analysts forecast that EnLink Midstream will post 0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on ENLC. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Wells Fargo & Company cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.00 to $15.00 in a research report on Friday, August 30th. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research note on Monday, September 30th. Tudor, Pickering, Holt & Co. raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, August 16th. Finally, Capital One Financial reaffirmed an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a research note on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EnLink Midstream currently has a consensus rating of “Hold” and a consensus price target of $15.44.

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.