EnLink Midstream, LLC (ENLC) Set to Announce Quarterly Earnings on Monday
EnLink Midstream, LLC (NYSE:ENLC) is scheduled to announce its earnings results after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $0.14 per share for the quarter.
Shares of EnLink Midstream, LLC (NYSE:ENLC) opened at 16.30 on Monday. The company has a market cap of $2.94 billion, a PE ratio of 4075.00 and a beta of 2.59. EnLink Midstream, LLC has a 12 month low of $14.70 and a 12 month high of $20.45. The firm’s 50 day moving average is $17.18 and its 200 day moving average is $17.48.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Wednesday, November 1st will be given a $0.255 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $1.02 dividend on an annualized basis and a yield of 6.26%.
An institutional investor recently raised its position in EnLink Midstream stock. The Manufacturers Life Insurance Company boosted its position in EnLink Midstream, LLC (NYSE:ENLC) by 11.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,684 shares of the pipeline company’s stock after buying an additional 599 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in EnLink Midstream were worth $100,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 34.55% of the company’s stock.
A number of analysts have weighed in on ENLC shares. Zacks Investment Research upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, October 17th. BidaskClub upgraded shares of EnLink Midstream from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $21.00 price target on shares of EnLink Midstream in a report on Monday, July 31st. Barclays PLC reiterated a “hold” rating and set a $19.00 price target on shares of EnLink Midstream in a report on Friday, July 21st. Finally, Jefferies Group LLC upgraded shares of EnLink Midstream from an “underperform” rating to a “hold” rating and cut their price target for the stock from $16.00 to $15.00 in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.82.
EnLink Midstream Company Profile
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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