EnLink Midstream, LLC Declares Quarterly Dividend of $0.13 (NYSE:ENLC)

EnLink Midstream, LLC (NYSE:ENLC) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Friday, April 26th will be paid a dividend of 0.132 per share by the pipeline company on Tuesday, May 14th. This represents a $0.53 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, April 25th.

EnLink Midstream has raised its dividend payment by an average of 2.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. EnLink Midstream has a payout ratio of 70.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect EnLink Midstream to earn $0.75 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 70.7%.

EnLink Midstream Price Performance

Shares of ENLC stock opened at $13.61 on Wednesday. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 30.93 and a beta of 2.39. The business’s fifty day moving average is $13.04 and its 200 day moving average is $12.65. EnLink Midstream has a twelve month low of $8.45 and a twelve month high of $14.18. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.70.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. Research analysts expect that EnLink Midstream will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ENLC shares. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Capital One Financial initiated coverage on EnLink Midstream in a report on Friday, March 22nd. They set an “overweight” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Citigroup upped their price target on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, UBS Group upped their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.63.

Insider Buying and Selling

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

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.