Wall Street analysts expect that EnLink Midstream, LLC (NYSE:ENLC) will announce sales of $1.25 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for EnLink Midstream’s earnings. The lowest sales estimate is $1.24 billion and the highest is $1.26 billion. EnLink Midstream posted sales of $1.10 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 13.6%. The business is scheduled to issue its next earnings report on Wednesday, November 1st.

On average, analysts expect that EnLink Midstream will report full-year sales of $1.25 billion for the current fiscal year, with estimates ranging from $5.21 billion to $5.61 billion. For the next financial year, analysts anticipate that the company will post sales of $5.75 billion per share, with estimates ranging from $5.36 billion to $6.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover EnLink Midstream.

A number of equities research analysts have recently issued reports on the stock. BidaskClub cut shares of EnLink Midstream from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. ValuEngine cut shares of EnLink Midstream from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of EnLink Midstream from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 4th. Citigroup Inc. raised shares of EnLink Midstream to a “neutral” rating and set a $19.00 price objective for the company in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 price objective on shares of EnLink Midstream in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $19.30.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its position in EnLink Midstream by 0.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 16,519 shares of the pipeline company’s stock valued at $291,000 after buying an additional 109 shares during the period. LVW Advisors LLC boosted its position in EnLink Midstream by 0.5% during the 1st quarter. LVW Advisors LLC now owns 51,725 shares of the pipeline company’s stock valued at $1,003,000 after buying an additional 250 shares during the period. Northern Trust Corp boosted its position in EnLink Midstream by 0.4% during the 2nd quarter. Northern Trust Corp now owns 102,348 shares of the pipeline company’s stock valued at $1,802,000 after buying an additional 386 shares during the period. Ameriprise Financial Inc. boosted its position in EnLink Midstream by 3.1% during the 1st quarter. Ameriprise Financial Inc. now owns 13,742 shares of the pipeline company’s stock valued at $266,000 after buying an additional 412 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in EnLink Midstream by 4.2% during the 1st quarter. Proficio Capital Partners LLC now owns 12,655 shares of the pipeline company’s stock valued at $228,000 after buying an additional 513 shares during the period. 34.53% of the stock is owned by institutional investors and hedge funds.

EnLink Midstream (ENLC) opened at 17.30 on Friday. The stock’s 50 day moving average is $17.04 and its 200 day moving average is $17.80. EnLink Midstream has a 1-year low of $14.70 and a 1-year high of $20.45. The company has a market cap of $3.12 billion, a P/E ratio of 4325.00 and a beta of 2.62.

About EnLink Midstream

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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