EnLink Midstream, LLC (NYSE:ENLC) released its quarterly earnings results on Tuesday. The pipeline company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11), Briefing.com reports. EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. The business’s revenue was up 26.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend is Tuesday, October 31st. EnLink Midstream’s dividend payout ratio is presently 3,401.13%.
An institutional investor recently raised its position in EnLink Midstream stock. The Manufacturers Life Insurance Company boosted its holdings in shares of EnLink Midstream, LLC (NYSE:ENLC) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,684 shares of the pipeline company’s stock after purchasing 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 quarter. 34.48% of the stock is currently owned by institutional investors.
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ENLC has been the topic of a number of analyst reports. Barclays PLC reiterated a “hold” rating and set a $19.00 price objective on shares of EnLink Midstream in a research note on Friday, July 21st. Citigroup Inc. upgraded shares of EnLink Midstream to a “neutral” rating and set a $19.00 price objective on the stock in a research note on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “hold” rating and set a $21.00 price objective on shares of EnLink Midstream in a research note on Monday, July 31st. BidaskClub upgraded shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Finally, Robert W. Baird reiterated a “hold” rating and set a $21.00 price objective on shares of EnLink Midstream in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.83.
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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