EnLink Midstream Partners LP (NYSE:ENLK) declared a quarterly dividend on Friday, April 21st. Stockholders of record on Tuesday, May 2nd will be given a dividend of 0.39 per share by the oil and gas producer on Friday, May 12th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.63%.
EnLink Midstream Partners has a dividend payout ratio of 1,040.0% indicating that 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 Partners to earn $0.44 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 354.5%.
EnLink Midstream Partners (NYSE:ENLK) traded down 0.11% during trading on Friday, hitting $18.05. 156,023 shares of the stock were exchanged. EnLink Midstream Partners has a 52 week low of $12.67 and a 52 week high of $19.89. The firm has a 50-day moving average of $18.22 and a 200-day moving average of $17.94. The stock’s market capitalization is $6.19 billion.
EnLink Midstream Partners (NYSE:ENLK) last issued its quarterly earnings data on Tuesday, February 14th. The oil and gas producer reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.22. The business earned $3.35 billion during the quarter, compared to the consensus estimate of $1.13 billion. EnLink Midstream Partners had a negative net margin of 30.61% and a positive return on equity of 1.90%. During the same quarter last year, the business earned ($2.17) EPS. Equities research analysts anticipate that EnLink Midstream Partners will post $0.18 earnings per share for the current fiscal year.
ENLK has been the subject of a number of research reports. Janney Montgomery Scott initiated coverage on shares of EnLink Midstream Partners in a report on Friday, March 10th. They issued a “neutral” rating and a $20.00 price objective for the company. Raymond James Financial, Inc. upgraded shares of EnLink Midstream Partners from a “market perform” rating to an “outperform” rating in a report on Thursday, January 12th. Finally, Guggenheim initiated coverage on shares of EnLink Midstream Partners in a report on Tuesday. They issued a “neutral” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. EnLink Midstream Partners presently has a consensus rating of “Hold” and an average price target of $18.33.
A hedge fund recently raised its stake in EnLink Midstream Partners stock. State Street Corp increased its stake in EnLink Midstream Partners LP (NYSE:ENLK) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,422 shares of the oil and gas producer’s stock after buying an additional 1,039 shares during the period. State Street Corp’s holdings in EnLink Midstream Partners were worth $358,000 at the end of the most recent quarter. 40.20% of the stock is owned by hedge funds and other institutional investors.
About EnLink Midstream Partners
EnLink Midstream Partners, LP is a midstream company. The Company’s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP (the Operating Partnership) and the subsidiaries of the Operating Partnership. The Company operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate.
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