EnLink Midstream, LLC (NYSE: ENLC) announced the pricing of a $700 million aggregate principal amount of 6.5% Senior Notes due September 2030 at 100% of their face value. EnLink Midstream Partners, LP (ENLK), a subsidiary of EnLink, shall fully and unconditionally guarantee the Senior Notes on a senior basis.
The Senior Notes are planned to be sold on August 31, 2022, subject to everyday circumstances. The previous offering size was raised. Disclosed is the $500 million aggregate principal amount of the Senior Notes. EnLink intends to use the net proceeds of this offering, along with existing corporate liquidity, to support the repurchase of up to $500 million in the aggregate principal amount of the $502.3 million outstanding aggregate principal amount of ENLK’s 4.40% Senior Notes due 2024.
The $717.2 million outstanding aggregate principal amount of ENLK’s 4.15% Senior Notes is due 2025. The $491.0 million outstanding aggregate principal amount of ENLK’s 4.85% Senior Notes is still owing. The tender proposals are made solely by the Offer to Purchase dated August 16, 2022.
On June 8, 2022, Credit Suisse analyst Spiro Dounis boosted his price objective on EnLink Midstream, LLC (NYSE: ENLC) from $9.00 to $11.00. The Barnett acquisition and Matterhorn Express pipeline interest would increase the company’s worth. The analyst confirmed his underperform rating when ENLC paid a synergized multiple of 4.0x for the Barnett assets.
But volume growth, high natural gas prices, and subsequent asset relocations could push that multiple even lower. The project improves the company’s cash flow profile on Matterhorn by adding consistent long-haul traffic. With planned 70% LTV financing at the project level, ENLC’s capital call is only $100 million, allowing the company to generate extra FCF in the future.”
On November 2, 2021, EnLink Midstream (NYSE: ENLC) reported Q3 EPS of $0.00, $0.03 below the analyst expectation of $0.03. Revenue for the quarter was $1.79 billion, compared to the consensus forecast of $1.32 billion.
H2> EnLink Midstream, LLC (ENLC) Company Profile/H2>
EnLink Midstream, LLC is a company that offers midstream energy services in the United States. It operates in five segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. The company gathers, compresses, treats, transports, stores, and sells natural gas; fractionates, transports, stores, and sells natural gas liquids; and stabilizes, trans-loads, and condenses crude oil, as well as provides brine disposal services. Its midstream energy asset network consists of approximately 12,100 miles of pipelines, 22 natural gas processing plants, seven fractionators with a combined capacity of roughly 320,000 barrels per day, barge and rail terminals, product storage facilities, brine disposal wells, and crude oil trucking fleet.
EnLink Midstream, LLC (ENLC) trading activities
ENLC is now worth USD 9.81 (-0.1%). The company’s best price today was USD 9.84, and its lowest price was USD 9.64.
ENLC has a market valuation of 4698335873 and a trading volume of 692822. The firm has a PE of 27.42 and an EPS of 0.36. The lowest price in the last 52 weeks was USD 4.79, and the highest was USD 11.85.
Currently, there are 478933000 ENLC shares available.
