Brokerages Anticipate EnLink Midstream, LLC (ENLC) Will Post Earnings of $0.17 Per Share
Equities analysts expect that EnLink Midstream, LLC (NYSE:ENLC) will report earnings of $0.17 per share for the current quarter, Zacks reports. Two analysts have made estimates for EnLink Midstream’s earnings, with estimates ranging from $0.08 to $0.32. EnLink Midstream reported earnings of ($0.02) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 950%. The firm is expected to report its next quarterly earnings report on Tuesday, February 13th.
On average, analysts expect that EnLink Midstream will report full year earnings of $0.30 per share for the current fiscal year, with EPS estimates ranging from $0.13 to $0.46. For the next fiscal year, analysts forecast that the business will post earnings of $0.71 per share, with EPS estimates ranging from $0.28 to $1.55. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11). EnLink Midstream had a return on equity of 0.15% and a net margin of 0.12%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. The firm’s revenue was up 26.6% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in ENLC. Citadel Advisors LLC grew its stake in EnLink Midstream by 1,195.1% in the 3rd quarter. Citadel Advisors LLC now owns 610,937 shares of the pipeline company’s stock valued at $10,539,000 after acquiring an additional 563,764 shares during the period. Principal Financial Group Inc. grew its stake in EnLink Midstream by 33.2% in the 2nd quarter. Principal Financial Group Inc. now owns 2,101,858 shares of the pipeline company’s stock valued at $36,993,000 after acquiring an additional 523,482 shares during the period. Dimensional Fund Advisors LP grew its stake in EnLink Midstream by 14.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock valued at $42,577,000 after acquiring an additional 314,840 shares during the period. Tortoise Capital Advisors L.L.C. grew its stake in EnLink Midstream by 8.0% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 3,737,067 shares of the pipeline company’s stock valued at $64,464,000 after acquiring an additional 275,225 shares during the period. Finally, Lazard Asset Management LLC grew its stake in EnLink Midstream by 142.8% in the 2nd quarter. Lazard Asset Management LLC now owns 400,652 shares of the pipeline company’s stock valued at $7,051,000 after acquiring an additional 235,609 shares during the period. 34.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EnLink Midstream (NYSE:ENLC) opened at $16.10 on Thursday. EnLink Midstream has a 1-year low of $15.00 and a 1-year high of $20.45. The firm has a market cap of $3,006.81, a PE ratio of 555.00 and a beta of 2.58. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Wednesday, November 1st were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Tuesday, October 31st. EnLink Midstream’s dividend payout ratio (DPR) is 3,401.13%.
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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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