EnLink Midstream (ENLC) Set to Announce Quarterly Earnings on Tuesday

EnLink Midstream (NYSE:ENLC) is scheduled to be announcing its earnings results after the market closes on Tuesday, February 20th. Analysts expect the company to announce earnings of $0.17 per share for the quarter.

Shares of EnLink Midstream (NYSE:ENLC) remained flat at $$17.30 during midday trading on Tuesday. The company had a trading volume of 255,970 shares, compared to its average volume of 364,509. The company has a market cap of $2,997.78, a P/E ratio of 576.86 and a beta of 2.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65. EnLink Midstream has a 12-month low of $15.00 and a 12-month high of $20.45.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.259 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.99%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.26. EnLink Midstream’s dividend payout ratio (DPR) is 3,467.82%.

A number of equities analysts have recently weighed in on ENLC shares. Credit Suisse Group started coverage on EnLink Midstream in a research note on Thursday, January 4th. They set a “neutral” rating and a $19.00 target price on the stock. UBS Group raised EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, October 24th. Zacks Investment Research raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, October 17th. Goldman Sachs Group raised EnLink Midstream from a “sell” rating to a “neutral” rating in a research report on Friday, November 17th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $20.00 price target on shares of EnLink Midstream in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $18.62.

An institutional investor recently raised its position in EnLink Midstream stock. The Manufacturers Life Insurance Company increased its stake in shares of EnLink Midstream LLC (NYSE:ENLC) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,684 shares of the pipeline company’s stock after buying an additional 599 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in EnLink Midstream were worth $100,000 at the end of the most recent reporting period. 34.40% of the stock is currently owned by hedge funds and other institutional investors.

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About EnLink Midstream

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.

Earnings History for EnLink Midstream (NYSE:ENLC)

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