Equities analysts predict that EnLink Midstream, LLC (NYSE:ENLC) will announce sales of $1.24 billion for the current quarter, Zacks reports. Two analysts have issued estimates for EnLink Midstream’s earnings, with estimates ranging from $1.23 billion to $1.24 billion. EnLink Midstream reported sales of $1.10 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The company is scheduled to report its next earnings results on Wednesday, November 1st.

On average, analysts expect that EnLink Midstream will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $5.01 billion to $5.61 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.79 billion per share, with estimates ranging from $5.52 billion to $6.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow EnLink Midstream.

Several equities research analysts have recently weighed in on the company. Barclays PLC reaffirmed a “hold” rating and issued a $19.00 target price on shares of EnLink Midstream in a research report on Friday, July 21st. Jefferies Group LLC raised EnLink Midstream from an “underperform” rating to a “hold” rating and decreased their target price for the stock from $16.00 to $15.00 in a research report on Wednesday, July 12th. TheStreet raised EnLink Midstream from a “d” rating to a “c-” rating in a research report on Friday, June 2nd. BidaskClub downgraded EnLink Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 target price on shares of EnLink Midstream in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.55.

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EnLink Midstream (ENLC) opened at 16.10 on Thursday. The stock has a 50 day moving average price of $17.44 and a 200 day moving average price of $18.13. The stock has a market cap of $2.91 billion, a PE ratio of 4025.00 and a beta of 2.58. EnLink Midstream has a 52 week low of $14.70 and a 52 week high of $20.45.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Tuesday, August 1st were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend was Friday, July 28th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its position in shares of EnLink Midstream by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 16,519 shares of the pipeline company’s stock worth $291,000 after buying an additional 109 shares in the last quarter. LVW Advisors LLC increased its position in shares of EnLink Midstream by 0.5% in the first quarter. LVW Advisors LLC now owns 51,725 shares of the pipeline company’s stock worth $1,003,000 after buying an additional 250 shares in the last quarter. Northern Trust Corp increased its position in shares of EnLink Midstream by 0.4% in the second quarter. Northern Trust Corp now owns 102,348 shares of the pipeline company’s stock worth $1,802,000 after buying an additional 386 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of EnLink Midstream by 3.1% in the first quarter. Ameriprise Financial Inc. now owns 13,742 shares of the pipeline company’s stock worth $266,000 after buying an additional 412 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of EnLink Midstream by 4.2% in the first quarter. Proficio Capital Partners LLC now owns 12,655 shares of the pipeline company’s stock worth $228,000 after buying an additional 513 shares in the last quarter. 33.79% of the stock is owned by hedge funds and other institutional investors.

EnLink Midstream Company Profile

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.

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