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

EnLink Midstream, LLC (NYSE:ENLC) – Research analysts at Capital One Financial decreased their Q3 2024 earnings estimates for shares of EnLink Midstream in a research report issued on Thursday, September 19th. Capital One Financial analyst W. Suki now anticipates that the pipeline company will earn $0.11 per share for the quarter, down from their previous forecast of $0.12. Capital One Financial has a “Equal Weight” rating and a $16.00 price objective 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 announced its earnings results 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 firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. EnLink Midstream had a return on equity of 8.22% and a net margin of 2.15%. EnLink Midstream’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company lowered shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $16.00 to $15.00 in a research report on Friday, August 30th. StockNews.com upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 price target on shares of EnLink Midstream in a research report on Thursday, August 29th. Morgan Stanley cut EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a report on Monday, September 16th. Finally, Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Friday, August 30th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.33.

EnLink Midstream Stock Up 0.8 %

ENLC stock opened at $14.62 on Monday. EnLink Midstream has a fifty-two week low of $11.44 and a fifty-two week high of $14.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 41.77 and a beta of 2.40. The business’s fifty day moving average price is $13.66 and its two-hundred day moving average price is $13.46.

EnLink Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, August 2nd. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s payout ratio is 151.43%.

Institutional Investors Weigh In On EnLink Midstream

Institutional investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC raised its stake in EnLink Midstream by 2,629.4% during the second quarter. HITE Hedge Asset Management LLC now owns 2,002,935 shares of the pipeline company’s stock worth $27,560,000 after buying an additional 1,929,551 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in shares of EnLink Midstream by 1,614.2% in the 4th quarter. Hennessy Advisors Inc. now owns 1,868,500 shares of the pipeline company’s stock valued at $22,721,000 after purchasing an additional 1,759,500 shares during the period. Chickasaw Capital Management LLC lifted its stake in shares of EnLink Midstream by 5.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after purchasing an additional 759,994 shares during the period. Millennium Management LLC lifted its stake in shares of EnLink Midstream by 1,433.6% in the 2nd quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock valued at $6,850,000 after purchasing an additional 465,383 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in shares of EnLink Midstream by 22.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,245,529 shares of the pipeline company’s stock valued at $30,629,000 after purchasing an additional 416,424 shares in the last quarter. Institutional investors own 45.87% 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.