Analysts Cut Q3 2024 EPS Estimates for EnLink Midstream, LLC (NYSE:ENLC)

EnLink Midstream, LLC (NYSE:ENLC – Free Report ) – Research analysts at Capital One Financial lowered 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 prior forecast of $0.12. Capital One Financial has an “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 – Get Your Free Report ) 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. In the same quarter last year, the business posted EPS of $0.12.

Other equities analysts have also issued reports on the stock. Wells Fargo & Company cut shares of EnLink Midstream from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $16.00 to $15.00 in a report research on Friday, August 30. 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 target price 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 16. 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 30. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.33, according to MarketBeat.com.

Check out our latest research report on ENLC

EnLink Midstream stocks rose 0.8%

Shares of 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 cap of $6.60 billion, a price-to-earnings ratio of 41.77 and a beta of 2.40. The company’s fifty day moving average price is $13.66 and its two hundred day moving average price is $13.46.

EnLink Midstream Raises Dividends

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 dividend of $0.53 on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, August 2. 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 are investing in EnLink Midstream

Institutional investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC boosted 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 purchasing an additional 1,929,551 shares in the last quarter. Hennessy Advisors Inc. raised its stake in 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 buying an additional 1,759,500 shares during the period. Chickasaw Capital Management LLC boosted its stake in 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 valued at $200,924,000 after acquiring an additional 759,994 shares during the period. Millennium Management LLC boosted its stake in EnLink Midstream by 1,433.6% in the second quarter. Millennium Management LLC now owns 497,846 shares of the pipeline company’s stock valued at $6,850,000 after buying an additional 465,383 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in shares of EnLink Midstream by 22.8% in the first 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 shares.

EnLink Midstream Company Profile

(Get a free report)

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through the Permian, Louisiana, Oklahoma, North Texas and Corporate segments. It is involved in the collection, compression, treatment, processing, transportation, storage and sale of natural gas; fractionation, transportation, storage and sale of natural gas liquids; and gathering, transporting, stabilizing, storing, transshipping and selling crude oil and condensate, as well as providing brine disposal services.

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