Enlink Midstream Llc - ENLC STOCK NEWS

EnLink Midstream (NYSE: ENLC) announced its commitment to achieving net zero greenhouse gas emissions by 2050. This initiative includes significant emissions reduction strategies aimed at minimizing the company's impact on climate change. Key objectives include a 30% reduction in methane emissions intensity by 2024 and a 30% reduction in total CO2e emissions intensity by 2030. EnLink also released its 2020 Sustainability Report, highlighting achievements in safety and environmental performance, including a 43% improvement in Total Recordable Incident Rate (TRIR). The company joined The Environmental Partnership, further committing to emissions reductions.

EnLink Midstream reported a net income of $12.6 million for Q1 2021 and reaffirmed its financial guidance for the year. The company generated $225.8 million in net cash from operating activities and $249.4 million in adjusted EBITDA, despite temporary volume impacts from Winter Storm Uri. All systems have returned to normal, and EnLink expects to meet its 2021 adjusted EBITDA guidance of $940 million to $1.0 billion. The acquisition of Amarillo Rattler enhances its position in the Midland Basin, while EnLink targets net zero emissions by 2050.

EnLink Midstream has declared a cash distribution of $0.09375 per common unit for Q1 2021, consistent with Q4 2020. The distribution will be paid on May 14, 2021, to unitholders of record by April 30. A conference call to discuss Q1 2021 earnings will take place on May 5, 2021, at 8 a.m. Central time. Investors can find the quarterly report and earnings press release on EnLink's website after market close on May 4, 2021. EnLink continues to focus on delivering sustainable value across its midstream services.

Cushing Asset Management and Swank Capital have announced an interim change to The Cushing 30 MLP Index. Following a merger agreement between TC PipeLines (TCP) and TC Energy Corporation (TRP), TCP common units will cease public trading, pending unitholder approval on February 26, 2021. Effective March 1, 2021, EnLink Midstream (ENLC) will replace TCP in the Index at TCP's current weight. The Index tracks 30 midstream energy infrastructure companies and is calculated by S&P Dow Jones Indices.

EnLink Midstream (NYSE: ENLC) has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2020, with the SEC. The report is available on EnLink's website under the 'Investors' section. EnLink operates a midstream platform focused on sustainable value creation, providing essential services across natural gas, crude oil, and NGL capabilities, particularly in key production regions such as the Permian Basin and the Gulf Coast. The company emphasizes its commitment to execution excellence aimed at delivering competitive returns for investors.

EnLink Midstream reported a net loss of $124 million for Q4 2020 but generated robust cash flows, exceeding adjusted EBITDA and free cash flow guidance. The company achieved a 29% profit growth in its Permian segment year-over-year and reduced leverage to 4.1x. Despite significant actions to stabilize finances, EnLink anticipates a net income of $45-$105 million for 2021, with an adjusted EBITDA forecasted between $940-$1,000 million. The company aims to enhance sustainability and reduce emissions while maintaining strong cash flow across all segments.

EnLink Midstream has declared a cash distribution of $0.09375 per common unit for Q4 2020, unchanged from Q3 2020. This distribution will be paid on February 12, 2021, to unitholders of record on February 1, 2021. The company will host a conference call on February 17 at 8 a.m. Central time to discuss its Q4 and full-year 2020 earnings, along with guidance for 2021. The quarterly report will be available after market close on February 16.

On December 23, 2020, EnLink Midstream announced the appointment of two new directors to its Board, Richard P. Schifter and Scott E. Telesz. Schifter, a senior advisor at TPG, replaces Christopher Ortega, while Telesz, from GIP, takes over for the retiring William A. Woodburn. Both new directors bring extensive expertise and strategic experience to the board. The total number of directors remains at 10. EnLink’s Chairman Barry E. Davis expressed confidence in their contributions to the company’s future.