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

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 dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, April 25th.

EnLink Midstream has raised its dividend payment 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 Price Performance

Shares of NYSE:ENLC opened at $13.66 on Tuesday. 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 has a 1 year low of $8.45 and a 1 year high of $14.18. The business has a fifty day simple moving average of $13.01 and a 200 day simple moving average of $12.64. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 31.03 and a beta of 2.39.

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

Insider Activity

In related news, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream 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 sale, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at $6,450,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Benjamin D. Lamb sold 250,552 shares of EnLink Midstream 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 sale, the chief financial officer now directly owns 534,000 shares of the company’s stock, valued at $6,450,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jan Philipp Rossbach sold 50,000 shares of the firm’s stock in a transaction dated 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 owns 58,410 shares of the company’s stock, valued at approximately $719,611.20. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.