EnLink Midstream, LLC (NYSE:ENLC) to Issue $0.13 Quarterly Dividend

EnLink Midstream, LLC (NYSE:ENLC) declared a quarterly dividend on Monday, October 14th, NASDAQ reports. Investors of record on Friday, November 1st will be paid a dividend of 0.1325 per share by the pipeline company on Thursday, November 14th. This represents a $0.53 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, November 1st.

EnLink Midstream has increased its dividend payment by an average of 2.2% annually over the last three years. EnLink Midstream has a dividend payout ratio of 71.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect EnLink Midstream to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 75.7%.

EnLink Midstream Stock Down 0.6 %

NYSE:ENLC traded down $0.09 during trading hours on Tuesday, hitting $14.61. 1,524,643 shares of the company traded hands, compared to its average volume of 2,042,051. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.72. The company has a market cap of $6.59 billion, a PE ratio of 42.01 and a beta of 2.40. The firm’s 50-day simple moving average is $13.94 and its 200-day simple moving average is $13.64. EnLink Midstream has a one year low of $11.53 and a one year high of $14.80.

EnLink Midstream (NYSE:ENLC) last released its quarterly 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). EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts predict that EnLink Midstream will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. StockNews.com raised shares of EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, August 16th. Finally, Tudor Pickering raised EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.44.

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.