$1.42 Billion in Sales Expected for EnLink Midstream, LLC (ENLC) This Quarter
Wall Street analysts expect EnLink Midstream, LLC (NYSE:ENLC) to report $1.42 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for EnLink Midstream’s earnings, with the highest sales estimate coming in at $1.43 billion and the lowest estimate coming in at $1.40 billion. EnLink Midstream reported sales of $1.22 billion in the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 13th.
On average, analysts expect that EnLink Midstream will report full-year sales of $1.42 billion for the current fiscal year, with estimates ranging from $5.24 billion to $5.42 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.66 billion per share, with estimates ranging from $5.36 billion to $5.82 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.11). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. The company’s revenue was up 26.6% on a year-over-year basis.
Shares of EnLink Midstream (ENLC) traded up $0.20 during trading hours on Tuesday, hitting $15.75. The company had a trading volume of 353,900 shares, compared to its average volume of 407,065. The company has a market cap of $2,808.16, a P/E ratio of 518.33 and a beta of 2.59. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. EnLink Midstream has a 52 week low of $15.00 and a 52 week high of $20.45.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Wednesday, November 1st were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $1.02 annualized dividend and a yield of 6.48%. EnLink Midstream’s payout ratio is presently 3,401.13%.
A number of hedge funds have recently added to or reduced their stakes in ENLC. The Manufacturers Life Insurance Company grew its position in shares of EnLink Midstream by 11.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock worth $100,000 after buying an additional 599 shares in the last quarter. Linscomb & Williams Inc. bought a new position in shares of EnLink Midstream during the 3rd quarter worth $150,000. WFG Advisors LP grew its position in shares of EnLink Midstream by 11.5% during the 2nd quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock worth $162,000 after buying an additional 950 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of EnLink Midstream during the 2nd quarter worth $178,000. Finally, Duff & Phelps Investment Management Co. grew its position in shares of EnLink Midstream by 9.1% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 12,000 shares of the pipeline company’s stock worth $211,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.
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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