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

EnLink Midstream, LLC (NYSE:ENLC - Get Free Report) 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 3.89%. The ex-dividend date of this dividend is Thursday, April 25th.

EnLink Midstream has increased its dividend by an average of 2.2% annually 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% meaning its dividend is sufficiently covered by earnings. Research 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 ENLC traded down $0.19 during trading hours on Friday, hitting $13.56. 2,717,993 shares of the stock were exchanged, compared to its average volume of 1,832,278. 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 stock's 50-day moving average price is $12.81 and its two-hundred day moving average price is $12.57. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 30.82 and a beta of 2.39. EnLink Midstream has a 12-month low of $8.45 and a 12-month high of $14.18.

EnLink Midstream (NYSE:ENLC - Get Free Report) last issued its earnings results on Tuesday, February 20th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.82 billion. EnLink Midstream had a return on equity of 8.12% and a net margin of 2.99%. Research analysts expect that EnLink Midstream will post 0.6 earnings per share for the current year.

Insider Buying and Selling at EnLink Midstream

In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the 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 sale, the chief accounting officer now owns 58,410 shares of the company's stock, valued at approximately $719,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other EnLink Midstream news, CAO Jan Philipp Rossbach sold 50,000 shares of the 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 sale, the chief accounting officer now owns 58,410 shares of the company's stock, valued at approximately $719,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Benjamin D. Lamb sold 250,552 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 534,000 shares in the company, valued at approximately $6,450,720. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in shares of EnLink Midstream by 4.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 20,695 shares of the pipeline company's stock valued at $184,000 after acquiring an additional 878 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of EnLink Midstream by 13.6% in the 4th quarter. Alliancebernstein L.P. now owns 12,110 shares of the pipeline company's stock valued at $149,000 after acquiring an additional 1,446 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of EnLink Midstream by 0.7% in the 3rd quarter. California State Teachers Retirement System now owns 228,573 shares of the pipeline company's stock valued at $2,032,000 after acquiring an additional 1,501 shares during the last quarter. Legal & General Group Plc grew its stake in EnLink Midstream by 0.7% during the 4th quarter. Legal & General Group Plc now owns 212,310 shares of the pipeline company's stock worth $2,582,000 after buying an additional 1,550 shares during the last quarter. Finally, Pinnacle Holdings LLC grew its stake in EnLink Midstream by 0.8% during the 1st quarter. Pinnacle Holdings LLC now owns 219,272 shares of the pipeline company's stock worth $2,116,000 after buying an additional 1,662 shares during the last quarter. Hedge funds and other institutional investors own 45.87% of the company's stock.

Wall Street Analyst Weigh In

ENLC has been the topic of several recent analyst reports. StockNews.com lowered EnLink Midstream from a "buy" rating to a "hold" rating in a research note on Thursday. UBS Group upped their price target on EnLink Midstream from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. decreased their target price on EnLink Midstream from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, February 29th. Finally, Capital One Financial began coverage on EnLink Midstream in a research note on Friday, March 22nd. They set an "overweight" rating and a $15.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.43.

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.