Wall Street brokerages expect that EnLink Midstream LLC (NYSE:ENLC) will report sales of $1.67 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for EnLink Midstream’s earnings, with the lowest sales estimate coming in at $1.53 billion and the highest estimate coming in at $1.82 billion. EnLink Midstream posted sales of $2.06 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.9%. The firm is scheduled to report its next quarterly earnings results after the market closes on Tuesday, February 25th.
According to Zacks, analysts expect that EnLink Midstream will report full year sales of $6.57 billion for the current year, with estimates ranging from $6.42 billion to $6.72 billion. For the next year, analysts forecast that the firm will report sales of $6.89 billion, with estimates ranging from $6.15 billion to $7.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.05). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.77 billion. EnLink Midstream had a negative net margin of 3.48% and a negative return on equity of 0.09%. The company’s revenue for the quarter was down 33.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS.
ENLC has been the subject of several analyst reports. UBS Group lowered EnLink Midstream from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $7.00 in a research report on Tuesday, October 8th. Robert W. Baird raised EnLink Midstream from a “neutral” rating to an “outperform” rating and set a $6.00 target price for the company in a research report on Thursday, December 5th. Wells Fargo & Co lowered EnLink Midstream from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Tuesday, January 7th. Zacks Investment Research raised EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Barclays reaffirmed a “neutral” rating on shares of EnLink Midstream in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. EnLink Midstream presently has an average rating of “Hold” and a consensus target price of $9.88.
In other EnLink Midstream news, Director Kyle D. Vann acquired 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average cost of $4.87 per share, with a total value of $48,700.00. Following the transaction, the director now owns 124,907 shares in the company, valued at approximately $608,297.09. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.45% of the company’s stock.
Several hedge funds have recently bought and sold shares of ENLC. M&T Bank Corp bought a new position in shares of EnLink Midstream in the 2nd quarter worth about $103,000. Bank of New York Mellon Corp raised its position in shares of EnLink Midstream by 935.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,615,498 shares of the pipeline company’s stock worth $26,391,000 after acquiring an additional 2,362,809 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of EnLink Midstream by 68.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 13,800 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 5,600 shares in the last quarter. United Capital Financial Advisers LLC bought a new stake in EnLink Midstream in the 2nd quarter valued at about $126,000. Finally, BlackRock Inc. increased its position in EnLink Midstream by 2.1% in the 2nd quarter. BlackRock Inc. now owns 1,788,960 shares of the pipeline company’s stock valued at $18,050,000 after buying an additional 36,520 shares in the last quarter. 46.82% of the stock is owned by hedge funds and other institutional investors.
NYSE ENLC opened at $5.74 on Wednesday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -82.00, a price-to-earnings-growth ratio of 6.39 and a beta of 2.02. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.96. EnLink Midstream has a twelve month low of $4.33 and a twelve month high of $13.10. The business’s fifty day moving average is $5.51 and its 200 day moving average is $7.37.
EnLink Midstream Company Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.
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