US Capital Advisors Has Optimistic View of ENLC Q3 Earnings

EnLink Midstream, LLC (NYSE:ENLC) – Investment analysts at US Capital Advisors increased their Q3 2024 EPS estimates for shares of EnLink Midstream in a research report issued to clients and investors on Monday, October 28th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $0.18 for the quarter, up from their previous estimate of $0.17. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.58 per share. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2025 earnings at $0.26 EPS.

Other analysts have also issued research reports about the company. Morgan Stanley lowered EnLink Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research note on Monday, September 16th. Capital One Financial reissued an “equal weight” rating and set a $16.00 price target on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a report on Friday, August 30th. Eight research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.40.

EnLink Midstream Trading Down 0.5 %

Shares of ENLC stock opened at $14.83 on Wednesday. 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 business has a 50-day moving average of $14.48 and a 200 day moving average of $13.73. The stock has a market capitalization of $6.84 billion, a PE ratio of 49.43 and a beta of 2.40. EnLink Midstream has a 1-year low of $11.53 and a 1-year high of $14.96.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) 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 the consensus estimate of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share.

EnLink Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.1325 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.53 annualized dividend and a yield of 3.57%. EnLink Midstream’s dividend payout ratio (DPR) is presently 176.67%.

Insider Buying and Selling at EnLink Midstream

In other news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.84% of the company’s stock.

Institutional Trading of EnLink Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HITE Hedge Asset Management LLC grew its stake in shares of EnLink Midstream by 2,629.4% in the 2nd 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. Catalyst Capital Advisors LLC grew its stake in shares of EnLink Midstream by 120.1% in the third quarter. Catalyst Capital Advisors LLC now owns 2,091,554 shares of the pipeline company’s stock worth $30,348,000 after acquiring an additional 1,141,254 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of EnLink Midstream by 32.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,324,324 shares of the pipeline company’s stock valued at $48,236,000 after acquiring an additional 812,767 shares in the last quarter. Chickasaw Capital Management LLC increased its holdings in shares of EnLink Midstream by 5.5% during the second quarter. Chickasaw Capital Management LLC now owns 14,602,011 shares of the pipeline company’s stock valued at $200,924,000 after acquiring an additional 759,994 shares in the last quarter. Finally, Millennium Management LLC raised its position 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 worth $6,850,000 after purchasing an additional 465,383 shares during the last quarter. 45.87% of the stock is owned by hedge funds and other institutional investors.

About EnLink Midstream

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.