FY2024 EPS Estimates for EnLink Midstream, LLC Cut by US Capital Advisors (NYSE:ENLC)

EnLink Midstream, LLC (NYSE:ENLC) – Stock analysts at US Capital Advisors decreased their FY2024 earnings per share (EPS) estimates for shares of EnLink Midstream in a research note issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $0.67 for the year, down from their prior forecast of $0.68. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.60 per share. US Capital Advisors also issued estimates for EnLink Midstream’s Q1 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at $0.86 EPS and FY2026 earnings at $1.00 EPS.

Other equities analysts have also issued research reports about the stock. Capital One Financial began coverage on shares of EnLink Midstream in a research report on Friday, March 22nd. They set an “overweight” rating and a $15.00 target price for the company. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. cut their price target on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Citigroup boosted their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, UBS Group raised their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, EnLink Midstream currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

EnLink Midstream Trading Down 6.2 %

NYSE:ENLC opened at $12.87 on Wednesday. EnLink Midstream has a 12 month low of $8.45 and a 12 month high of $14.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.70. The firm’s 50 day moving average is $13.21 and its 200 day moving average is $12.70. The stock has a market capitalization of $5.83 billion, a PE ratio of 29.25 and a beta of 2.39.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion.

Institutional Investors Weigh In On EnLink Midstream

Hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its position in shares of EnLink Midstream by 11.0% during the third quarter. Alps Advisors Inc. now owns 42,389,633 shares of the pipeline company’s stock valued at $518,001,000 after acquiring an additional 4,200,733 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of EnLink Midstream by 1.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 15,964,328 shares of the pipeline company’s stock valued at $194,126,000 after purchasing an additional 186,801 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of EnLink Midstream by 70.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,458,844 shares of the pipeline company’s stock valued at $152,247,000 after buying an additional 5,152,252 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in EnLink Midstream by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,736,175 shares of the pipeline company’s stock worth $81,911,000 after buying an additional 342,204 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in EnLink Midstream by 13.9% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 3,093,557 shares of the pipeline company’s stock worth $37,618,000 after buying an additional 378,450 shares during the last quarter. 45.87% of the stock is owned by institutional investors.

Insider Activity

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $12.32, for a total value of $616,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at approximately $719,611.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Benjamin D. Lamb sold 250,552 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $12.08, for a total transaction of $3,026,668.16. Following the sale, the chief financial officer now owns 534,000 shares in the company, valued at approximately $6,450,720. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $12.32, for a total transaction of $616,000.00. Following the completion of the transaction, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at $719,611.20. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

EnLink Midstream Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 26th will be given a $0.132 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.10%. EnLink Midstream’s dividend payout ratio is currently 120.46%.

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.