EnLink Midstream LLC (NYSE:ENLC) announced a quarterly dividend on Thursday, April 18th, NASDAQ reports. Shareholders of record on Monday, April 29th will be given a dividend of 0.279 per share by the pipeline company on Tuesday, May 14th. This represents a $1.12 annualized dividend and a yield of 9.22%. The ex-dividend date is Friday, April 26th. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28.

EnLink Midstream has raised its dividend payment by an average of 2.5% per year over the last three years. EnLink Midstream has a payout ratio of 244.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect EnLink Midstream to earn $0.36 per share next year, which means the company may not be able to cover its $1.10 annual dividend with an expected future payout ratio of 305.6%.

EnLink Midstream stock opened at $12.10 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.81 and a current ratio of 0.81. EnLink Midstream has a 12 month low of $8.90 and a 12 month high of $18.40. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of -172.86, a P/E/G ratio of 12.18 and a beta of 2.29.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, February 19th. The pipeline company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.51). EnLink Midstream had a negative return on equity of 0.25% and a negative net margin of 0.17%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.12 billion. On average, research analysts predict that EnLink Midstream will post 0.25 EPS for the current year.

A number of research analysts have recently issued reports on ENLC shares. ValuEngine raised EnLink Midstream from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research downgraded EnLink Midstream from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Stifel Nicolaus started coverage on EnLink Midstream in a report on Friday, February 8th. They set a “buy” rating and a $13.00 price target on the stock. Mitsubishi UFJ Financial Group raised EnLink Midstream from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 20th. Finally, Jefferies Financial Group downgraded EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a report on Monday, April 15th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. EnLink Midstream has an average rating of “Hold” and an average target price of $16.17.

In other EnLink Midstream news, major shareholder Goldman Sachs Group Inc purchased 24,791 shares of the stock in a transaction dated Friday, February 1st. The shares were purchased at an average cost of $10.86 per share, with a total value of $269,230.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.45% of the company’s stock.

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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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Dividend History for EnLink Midstream (NYSE:ENLC)

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