EnLink Midstream Partners LP (NYSE:ENLK) announced a quarterly dividend on Wednesday, July 18th, NASDAQ reports. Shareholders of record on Monday, July 30th will be paid a dividend of 0.39 per share by the oil and gas producer on Monday, August 13th. This represents a $1.56 annualized dividend and a yield of 10.09%. The ex-dividend date of this dividend is Friday, July 27th.
EnLink Midstream Partners has raised its dividend by an average of 12.5% per year over the last three years. EnLink Midstream Partners has a payout ratio of 487.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect EnLink Midstream Partners to earn $0.40 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 390.0%.
Shares of EnLink Midstream Partners opened at $15.46 on Thursday, MarketBeat reports. EnLink Midstream Partners has a twelve month low of $12.75 and a twelve month high of $18.58. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 515.33 and a beta of 2.22.
In other news, CAO Susan J. Mcaden sold 14,929 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $16.29, for a total value of $243,193.41. Following the completion of the transaction, the chief accounting officer now directly owns 27,464 shares in the company, valued at approximately $447,388.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by insiders.
Several brokerages have weighed in on ENLK. Barclays lifted their price objective on shares of EnLink Midstream Partners from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, June 12th. Zacks Investment Research upgraded shares of EnLink Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research report on Monday. Stifel Nicolaus set a $18.00 target price on shares of EnLink Midstream Partners and gave the company a “hold” rating in a research report on Wednesday, June 6th. Guggenheim set a $16.00 target price on shares of EnLink Midstream Partners and gave the company a “hold” rating in a research report on Monday, April 16th. Finally, ValuEngine cut shares of EnLink Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.71.
EnLink Midstream Partners Company Profile
EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.
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