EnLink Midstream, LLC (ENLC) to Issue Quarterly Dividend of $0.13 on May 14th

EnLink Midstream, LLC (NYSE:ENLC) declared a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Friday, April 26th will be given 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 3.87%. The ex-dividend date is Thursday, April 25th.

EnLink Midstream has raised its dividend by an average of 2.2% per year over the last three years and has raised its dividend every year for the last 2 years. EnLink Midstream has a payout ratio of 70.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

EnLink Midstream stock opened at $13.66 on Tuesday. The firm has a market capitalization of $6.19 billion, a P/E ratio of 31.03 and a beta of 2.39. The stock has a fifty day moving average price of $13.01 and a 200 day moving average price of $12.64. EnLink Midstream has a 52 week low of $8.45 and a 52 week 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.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. Equities research analysts anticipate that EnLink Midstream will post 0.6 earnings per share for the current year.

Insider Transactions at EnLink Midstream

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

Analysts Set New Price Targets

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

EnLink Midstream Company Profile

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.