Analysts Expect EnLink Midstream LLC (ENLC) Will Announce Quarterly Sales of $1.44 Billion

Equities research analysts expect EnLink Midstream LLC (NYSE:ENLC) to post sales of $1.44 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for EnLink Midstream’s earnings, with the highest sales estimate coming in at $1.44 billion and the lowest estimate coming in at $1.43 billion. EnLink Midstream posted sales of $1.22 billion in the same quarter last year, which would indicate a positive year over year growth rate of 18%. The company is scheduled to announce its next earnings results on Tuesday, February 13th.

On average, analysts expect that EnLink Midstream will report full-year sales of $1.44 billion for the current year, with estimates ranging from $5.37 billion to $5.42 billion. For the next financial year, analysts expect that the firm will report sales of $5.70 billion per share, with estimates ranging from $5.47 billion to $5.82 billion. Zacks’ sales averages are an average based on a survey of analysts that cover EnLink Midstream.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.11). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. The business’s revenue was up 26.6% compared to the same quarter last year.

A number of research firms have commented on ENLC. B. Riley began coverage on shares of EnLink Midstream in a research report on Friday. They issued a “neutral” rating and a $18.00 price target on the stock. Credit Suisse Group began coverage on shares of EnLink Midstream in a research report on Thursday, January 4th. They issued a “neutral” rating and a $19.00 price target on the stock. Jefferies Group restated a “hold” rating and issued a $16.00 price target on shares of EnLink Midstream in a research report on Friday, January 12th. Royal Bank of Canada restated a “hold” rating and issued a $20.00 price target on shares of EnLink Midstream in a research report on Tuesday, January 16th. Finally, Bank of America began coverage on shares of EnLink Midstream in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.77.

Several hedge funds and other institutional investors have recently made changes to their positions in ENLC. Citadel Advisors LLC raised its stake in shares of EnLink Midstream by 1,195.1% in the third quarter. Citadel Advisors LLC now owns 610,937 shares of the pipeline company’s stock worth $10,539,000 after acquiring an additional 563,764 shares during the last quarter. Chickasaw Capital Management LLC raised its stake in shares of EnLink Midstream by 3.0% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,898,889 shares of the pipeline company’s stock worth $279,820,000 after acquiring an additional 456,251 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of EnLink Midstream by 14.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock worth $42,577,000 after acquiring an additional 314,840 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of EnLink Midstream by 8.0% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 3,737,067 shares of the pipeline company’s stock worth $64,464,000 after acquiring an additional 275,225 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of EnLink Midstream by 27.1% in the second quarter. Goldman Sachs Group Inc. now owns 713,740 shares of the pipeline company’s stock worth $12,561,000 after acquiring an additional 152,129 shares during the last quarter. 34.33% of the stock is owned by institutional investors.

EnLink Midstream (NYSE ENLC) opened at $19.40 on Monday. The company has a market cap of $3,503.43, a PE ratio of 646.67 and a beta of 2.59. EnLink Midstream has a 12-month low of $15.00 and a 12-month high of $20.45. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be paid a $0.259 dividend. The ex-dividend date is Tuesday, January 30th. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.34%. EnLink Midstream’s payout ratio is currently 3,401.13%.

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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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