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EnLink Midstream: Gassed Up For An Era Of Dividend Growth

Sep. 02, 2022 8:47 AM ETEnLink Midstream, LLC (ENLC)6 Comments
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DT Analysis


  • The gas-focused EnLink Midstream saw very strong results during 2021 and thankfully, these continued into 2022.
  • They have increased their adjusted EBITDA guidance for 2022, which represents an increase of over 20% year-on-year.
  • They also increased their capital expenditure guidance as they ramp up investments to handle higher volumes.
  • Following the otherwise tragic Russia-Ukraine war, this sees them well-positioned to capitalize on the additional demand for LNG and thus gas from the United States.
  • This should translate into an era of dividend growth and therefore, I believe that maintaining my buy rating is appropriate.

Business Trends Graphs and charts Gas investment



Upon entering 2022, the gas-focused EnLink Midstream (NYSE:ENLC) had all the ingredients for higher dividends, as my previous article highlighted back in late December 2021. Thankfully fate proved this quite apt with the very next month

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I am no longer active, as I am taking a hiatus from finance to pursue business ventures in other sectors.  I hope that my analysis was helpful to investors across the years, thank you.

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Comments (6)

upnorthwi profile picture
EnLink declared a cash distribution of $0.125 per common unit for the fourth quarter of 2022, increase of 11%. Paid on February 13, 2023, to unitholders of record on January 30, 2023.
Chancer profile picture
ENLC at my cost of $2.10 and yield of 21.48% has been great. However, in less than 4 years my cost will be zero and dividends will be reported as cap gains.

Buying new shares at $10+ with a dividend of 4+% does not appeal to me. So, eventually I will have to sell, and invest elsewhere for higher dividends.
@Chancer Agree that 4% is not great. But now that debt levels and leverage have decreased, more share buybacks and Dividend increases should be on the horizon. Based on some earlier management comments on quarterly earnings calls, I think dividends will increase soon. Maybe we can get back to the $1.00 plus div of a couple of years ago.
@Lookingforincome Am I correct in thinking the distro was $1.56 a few years ago?
@bellwells Don't remember that, but it was $1.12 in 2019 before cut to pay down debt and cover CapX, so they would not have to issue additional shares at low prices.
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