FY2024 Earnings Forecast for EnLink Midstream, LLC Issued By US Capital Advisors (NYSE:ENLC)

EnLink Midstream, LLC (NYSE:ENLC) – Analysts at US Capital Advisors reduced their FY2024 earnings per share (EPS) estimates for EnLink Midstream in a report released on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.67 per share for the year, down from their prior forecast of $0.68. The consensus estimate for EnLink Midstream’s current full-year earnings is $0.60 per share. US Capital Advisors also issued estimates for EnLink Midstream’s Q1 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at $0.86 EPS and FY2026 earnings at $1.00 EPS.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $1.86 billion for 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%.

Several other analysts also recently issued reports on ENLC. Citigroup upped their price objective on EnLink Midstream from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. reduced their target price on EnLink Midstream from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. UBS Group increased their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, 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 target price on the stock. Two 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 stock has a consensus rating of “Moderate Buy” and an average price target of $14.29.

EnLink Midstream Stock Down 2.7 %

EnLink Midstream stock opened at $13.72 on Wednesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 31.18 and a beta of 2.39. EnLink Midstream has a fifty-two week low of $8.45 and a fifty-two week high of $14.18. The stock’s fifty day moving average is $13.20 and its two-hundred day moving average is $12.70.

EnLink Midstream Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Thursday, April 25th. EnLink Midstream’s payout ratio is currently 120.46%.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction 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 sale, the chief accounting officer now owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Jan Philipp Rossbach sold 50,000 shares of EnLink Midstream stock in a transaction 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 transaction, the chief accounting officer now directly owns 58,410 shares in the company, valued at approximately $719,611.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream stock in a transaction 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 in the company, valued at $6,450,720. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On EnLink Midstream

A number of hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in shares of EnLink Midstream by 14.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 6,849 shares of the pipeline company’s stock worth $84,000 after acquiring an additional 885 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of EnLink Midstream by 24.2% during the first quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after buying an additional 1,343 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of EnLink Midstream by 2.4% during the third quarter. Glenmede Trust Co. NA now owns 65,035 shares of the pipeline company’s stock valued at $795,000 after buying an additional 1,494 shares in the last quarter. Lee Financial Co grew its holdings in shares of EnLink Midstream by 2.2% during the third quarter. Lee Financial Co now owns 80,655 shares of the pipeline company’s stock valued at $986,000 after buying an additional 1,737 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of EnLink Midstream by 8.6% during the third quarter. Lindbrook Capital LLC now owns 26,404 shares of the pipeline company’s stock valued at $323,000 after buying an additional 2,087 shares in the last quarter. 45.87% of the stock is currently owned by institutional investors and hedge funds.

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.