EnLink Midstream, LLC (NYSE:ENLC – Get Rating) – Research analysts at US Capital Advisors raised their Q3 2022 earnings per share (EPS) estimates for shares of EnLink Midstream in a research report issued on Monday, July 25th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $0.14 per share for the quarter, up from their previous forecast of $0.12. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.32 per share. US Capital Advisors also issued estimates for EnLink Midstream’s Q4 2022 earnings at $0.17 EPS, FY2022 earnings at $0.48 EPS, Q1 2023 earnings at $0.17 EPS, Q2 2023 earnings at $0.16 EPS, Q3 2023 earnings at $0.18 EPS, Q4 2023 earnings at $0.21 EPS, FY2023 earnings at $0.72 EPS and FY2024 earnings at $0.80 EPS.
EnLink Midstream (NYSE:ENLC – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The pipeline company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.72 billion. EnLink Midstream had a return on equity of 2.33% and a net margin of 0.92%.
EnLink Midstream Stock Up 1.3 %
ENLC stock opened at $9.76 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $4.72 billion, a PE ratio of 69.71 and a beta of 2.76. EnLink Midstream has a 1-year low of $4.78 and a 1-year high of $11.85. The business’s 50 day simple moving average is $9.60 and its 200 day simple moving average is $9.30.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of ENLC. Miller Howard Investments Inc. NY lifted its holdings in EnLink Midstream by 3.4% during the second quarter. Miller Howard Investments Inc. NY now owns 2,672,932 shares of the pipeline company’s stock worth $22,720,000 after acquiring an additional 88,177 shares during the period. Segment Wealth Management LLC grew its position in shares of EnLink Midstream by 3.3% in the second quarter. Segment Wealth Management LLC now owns 95,556 shares of the pipeline company’s stock valued at $812,000 after purchasing an additional 3,053 shares in the last quarter. Fractal Investments LLC grew its position in shares of EnLink Midstream by 7.7% in the second quarter. Fractal Investments LLC now owns 2,182,278 shares of the pipeline company’s stock valued at $18,549,000 after purchasing an additional 155,924 shares in the last quarter. Connective Portfolio Management LLC purchased a new position in shares of EnLink Midstream in the second quarter valued at $340,000. Finally, Royal Bank of Canada grew its position in shares of EnLink Midstream by 22.1% in the first quarter. Royal Bank of Canada now owns 270,563 shares of the pipeline company’s stock valued at $2,611,000 after purchasing an additional 49,013 shares in the last quarter. Institutional investors own 39.98% of the company’s stock.
EnLink Midstream Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a $0.1125 dividend. The ex-dividend date is Thursday, July 28th. This represents a $0.45 dividend on an annualized basis and a yield of 4.61%. EnLink Midstream’s dividend payout ratio (DPR) is presently 321.43%.
About EnLink Midstream
EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.
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