Brokerages Expect EnLink Midstream LLC (ENLC) to Announce $0.19 Earnings Per Share

Analysts forecast that EnLink Midstream LLC (NYSE:ENLC) will report $0.19 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for EnLink Midstream’s earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.41. EnLink Midstream posted earnings of ($0.02) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 1,050%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, February 20th.

On average, analysts expect that EnLink Midstream will report full year earnings of $0.34 per share for the current year, with EPS estimates ranging from $0.13 to $0.55. For the next fiscal year, analysts forecast that the firm will post earnings of $0.75 per share, with EPS estimates ranging from $0.32 to $1.61. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover EnLink Midstream.

A number of analysts have commented on the company. Seaport Global Securities set a $17.00 price objective on EnLink Midstream and gave the stock a “hold” rating in a report on Friday. ValuEngine lowered EnLink Midstream from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. B. Riley assumed coverage on EnLink Midstream in a report on Friday, January 26th. They set a “neutral” rating and a $18.00 price objective for the company. Zacks Investment Research raised EnLink Midstream from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, October 17th. Finally, Bank of America assumed coverage on EnLink Midstream in a research note on Tuesday, January 9th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.85.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in EnLink Midstream by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after purchasing an additional 599 shares during the last quarter. Linscomb & Williams Inc. purchased a new position in EnLink Midstream in the third quarter valued at approximately $150,000. WFG Advisors LP lifted its stake in EnLink Midstream by 11.5% in the second quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock valued at $162,000 after purchasing an additional 950 shares during the last quarter. GSA Capital Partners LLP purchased a new position in EnLink Midstream in the second quarter valued at approximately $178,000. Finally, Nationwide Fund Advisors lifted its stake in EnLink Midstream by 397.6% in the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock valued at $207,000 after purchasing an additional 9,599 shares during the last quarter. Hedge funds and other institutional investors own 34.40% of the company’s stock.

Shares of EnLink Midstream (ENLC) opened at $17.30 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $3,000.00, a P/E ratio of 576.67 and a beta of 2.47. EnLink Midstream has a twelve month low of $15.00 and a twelve month high of $20.45.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be paid a $0.259 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend is Tuesday, January 30th. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. EnLink Midstream’s payout ratio is presently 3,466.67%.

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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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