Equities research analysts expect EnLink Midstream, LLC (NYSE:ENLC) to post sales of $1.25 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for EnLink Midstream’s earnings, with estimates ranging from $1.24 billion to $1.26 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 13.6%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, October 31st.

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

A number of research analysts recently commented on the company. Seaport Global Securities assumed coverage on EnLink Midstream in a report on Tuesday. They issued a “neutral” rating and a $16.00 price target on the stock. BidaskClub cut EnLink Midstream from a “sell” rating to a “strong sell” rating in a report on Saturday, October 7th. Robert W. Baird reissued a “hold” rating and issued a $21.00 price target on shares of EnLink Midstream in a report on Thursday, September 21st. ValuEngine cut EnLink Midstream from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised EnLink Midstream from a “strong sell” rating to a “hold” rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.80.

TRADEMARK VIOLATION NOTICE: This story was reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The original version of this story can be read at https://www.americanbankingnews.com/2017/10/12/1-25-billion-in-sales-expected-for-enlink-midstream-llc-enlc-this-quarter-2.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in EnLink Midstream by 11.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after acquiring an additional 599 shares during the last quarter. WFG Advisors LP grew its position in EnLink Midstream by 11.5% in the 2nd quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock valued at $162,000 after acquiring an additional 950 shares during the last quarter. GSA Capital Partners LLP bought a new position in EnLink Midstream in the 2nd quarter valued at $178,000. Tower Research Capital LLC TRC bought a new position in EnLink Midstream in the 1st quarter valued at $206,000. Finally, Duff & Phelps Investment Management Co. grew its position in EnLink Midstream by 9.1% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 12,000 shares of the pipeline company’s stock valued at $211,000 after acquiring an additional 1,000 shares during the last quarter. 34.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EnLink Midstream (ENLC) opened at 17.60 on Thursday. The stock has a market capitalization of $3.18 billion, a P/E ratio of 4400.00 and a beta of 2.59. The stock has a 50 day moving average of $17.20 and a 200-day moving average of $17.59. EnLink Midstream has a one year low of $14.70 and a one year high of $20.45.

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.

Get a free copy of the Zacks research report on EnLink Midstream (ENLC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for EnLink Midstream LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream LLC and related companies with MarketBeat.com's FREE daily email newsletter.