EnLink Midstream LLC (ENLC) Expected to Announce Quarterly Sales of $1.44 Billion

Equities analysts expect that EnLink Midstream LLC (NYSE:ENLC) will announce sales of $1.44 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for EnLink Midstream’s earnings. EnLink Midstream posted sales of $1.22 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 18%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that EnLink Midstream will report full year sales of $1.44 billion for the current fiscal year, with estimates ranging from $5.37 billion to $5.42 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.73 billion per share, with estimates ranging from $5.47 billion to $5.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for EnLink Midstream.

A number of equities research analysts have commented on the company. B. Riley assumed coverage on EnLink Midstream in a research report on Friday, January 26th. They set a “neutral” rating and a $18.00 price objective for the company. Royal Bank of Canada restated a “hold” rating and set a $20.00 price objective on shares of EnLink Midstream in a research report on Tuesday, January 16th. Jefferies Group restated a “hold” rating and set a $16.00 price objective on shares of EnLink Midstream in a research report on Friday, January 12th. Credit Suisse Group assumed coverage on EnLink Midstream in a research report on Thursday, January 4th. They set a “neutral” rating and a $19.00 price objective for the company. Finally, ValuEngine lowered EnLink Midstream from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $18.62.

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings 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 valued at $100,000 after buying an additional 599 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of EnLink Midstream during the 4th quarter valued at about $144,000. Linscomb & Williams Inc. acquired a new stake in shares of EnLink Midstream during the 3rd quarter valued at about $150,000. WFG Advisors LP lifted its holdings 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 valued at $162,000 after buying an additional 950 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in EnLink Midstream in the 2nd quarter worth approximately $178,000. Institutional investors and hedge funds own 34.40% of the company’s stock.

Shares of EnLink Midstream (NYSE ENLC) opened at $17.35 on Thursday. EnLink Midstream has a 1 year low of $15.00 and a 1 year high of $20.45. The company has a market capitalization of $3,124.19, a PE ratio of 576.67 and a beta of 2.47. 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 also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a dividend of $0.259 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.97%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, January 30th. EnLink Midstream’s payout ratio is currently 3,467.82%.

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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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