EnLink Midstream LLC (NYSE:ENLC) declared a quarterly dividend on Wednesday, January 15th, Zacks reports. Investors of record on Friday, January 31st will be given a dividend of 0.188 per share by the pipeline company on Thursday, February 13th. This represents a $0.75 dividend on an annualized basis and a yield of 12.78%. The ex-dividend date is Thursday, January 30th.
EnLink Midstream has raised its dividend by an average of 0.0% per year over the last three years and has increased its dividend every year for the last 1 years. EnLink Midstream has a dividend payout ratio of -1,255.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect EnLink Midstream to earn $0.21 per share next year, which means the company may not be able to cover its $1.13 annual dividend with an expected future payout ratio of 538.1%.
ENLC stock traded up $0.04 during trading on Friday, reaching $5.89. 1,381,059 shares of the company were exchanged, compared to its average volume of 7,449,961. The company has a 50-day moving average of $5.55 and a two-hundred day moving average of $7.32. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -84.07, a P/E/G ratio of 6.92 and a beta of 2.02. EnLink Midstream has a twelve month low of $4.33 and a twelve month high of $13.10. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.95 and a quick ratio of 0.95.
Several equities analysts have issued reports on the stock. TheStreet cut shares of EnLink Midstream from a “c-” rating to a “d+” rating in a research report on Friday, November 15th. Wells Fargo & Co downgraded shares of EnLink Midstream from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a report on Tuesday, January 7th. Barclays restated a “neutral” rating on shares of EnLink Midstream in a report on Wednesday, November 20th. Zacks Investment Research upgraded shares of EnLink Midstream from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada lowered their target price on shares of EnLink Midstream from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.63.
In related news, Director Kyle D. Vann bought 10,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the director now directly owns 124,907 shares in the company, valued at approximately $608,297.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.45% of the stock is currently owned by company insiders.
EnLink Midstream Company Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company 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.
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