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EnLink Midstream, LLC (ENLC)
NYSE - NYSE Delayed Price. Currency in USD
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Based upon KMI earnings ENLC is going to post a huge quarter due to the winter storm
If this hits $5 , I’m out
I get some are disappointed in management's decision to focus on debt reduction rather than increasing dividends but in the end it really doesn't matter. As debt is paid down the even if the market does not appreciate it if EV (debt plus equity) stays the same then equity is going to move north as debt heads south.
The plan this year is to pay off that 350M left on their term note with profits from 2021 (free cash flow midpoint is 300M but they are probably being conservative) meaning odds are the equity portion of the equation moves north by 300M if everything stays equal (which it never does but the move will still play out)......which is around 60 cents a share or about 15% at the current trading price.
So odds are between the debt reduction and the distribution (around 8.5% currently) this will return over 20% this year.
That's not such a bad return for a boring investment.
In the end the large move north will probably play out as debt is dropped below 4X (probably 18 months from now) and dividends are pushed north by 100% (free cash flow of 300M staying steady after all capex.....you only need about half of that to go to dividends to double the current payout).
As that plays out this should move north to the 8 to 10 range.
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EnLink Midstream is up 7.87% to 4.66
So ENLC is an LLC company, not an MLP. However, it pays distributions to unit holders as RETURN OF CAPITAL. Strange, I thought only MLP companies pays RETURN OF CAPITAL. But I like it, nice! I can't find on its website where they say distributions are paid as ordinary dividends or as return of capital.
Odds of ENLC and/or AM Antero Midstream returning to half of their 2017-18 glory (half being $15 level)?
Could this possibly hit $5.00 again???
This is likely going to be a long boring hold from here on out. If you like the dividend then stay. If you don't and chasing growth maybe look elsewhere.I am holding this through the summer, just to ride the positive momentum with the Energy industry. #$%$6 maybe a good exit point.
Does ENLC have a buy back in place? With all the FCF generated last qtr I’d hope they bought in the $4 range.
What does anyone have as their price target for enlc? I am like this move. How much more is in the tank?
I was wondering that after reading transcript, must be street not happy about loss per share surprise. Maybe not excited about debt reduction instead of other options?
Dropped on huge volume. Any ideas what happened? Any news? Whose dumping?
How come this company doesn't earn positive GAAB profit according to Yahoo analysis?
No one here? Someone is dumping major shares today.
I'm satisfied with their report. Onward and upward.
This has fully recovered to pre-Covid￼ price, and is￼ not the best dividend out there now. I think it may be time to bail.￼￼ it’s been a good ride.￼
I thank everyone who has provided insight here. Esp Dealwithit, Dividend aristocrat and Nadeem. So now that Q4 and the annual are out, what do you all think going forward. It seems that reduced debt, reduced cap ex, and cash flow are all going in the right direction. Will share price hold up or increase and why the drop from just a couple of weeks ago? I was surprised by that.
Guess the street didnt like the earnings report...
ENLC continues to hold the title of ''laggard'' when it comes to energy stocks.
All energy stocks, and just about ever other stock on the planet, bottomed around the 2nd week of March. From there they took off, with almost all energy stocks doubling from their bottom by the 2nd week of April.
Except for ENLC, which continued to hover near it's low (around one dollar). It's what brought me to this stock in the first place back then.
All energy stocks have been crushed the last three weeks by 30% or more including ENLC.....the ''laggard'' title comes from the fact while all I follow are recovering somewhat today while ENLC is headed in the opposite direction.
Never mind the fact the share price rallied after a solid earnings report last quarter and the distributive numbers on the dividend are rock solid (3.7X and 1.7X after all CAPEX including growth) and the debt to EBITA number is dropping as cash flow increases (4.2X last quarter). Never mind the fact that their number one customer (15% of revenue) just agreed to merge with another player creating an even stronger partner.
We'll just have to see if the current scenario plays out like the last one (where it rallied 400% over a 10 week period to catch up to all the other players in the sector....going from 1 to 4) or just continues to pay a high dividend while remaining in the Wall Street Doghouse for an extended period of time.
Tomorrow - May 5 will tell the tale. Big earnings surprise, or more pathetic excuses. If it is miraculously the former, and this thing hits $5 - I’m out!!!
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