EnLink Midstream LLC (NYSE:ENLC) – Analysts at Jefferies Group boosted their Q4 2017 earnings estimates for EnLink Midstream in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst C. Sighinolfi now expects that the pipeline company will earn $0.23 per share for the quarter, up from their previous forecast of $0.21. Jefferies Group has a “Hold” rating and a $16.00 price objective on the stock. Jefferies Group also issued estimates for EnLink Midstream’s FY2018 earnings at $0.92 EPS.
EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share for the quarter, missing the Zacks’ 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 analyst estimates of $1.36 billion. The firm’s revenue was up 26.6% compared to the same quarter last year.
Other equities analysts also recently issued reports about the stock. Robert W. Baird reissued a “hold” rating and set a $21.00 target price on shares of EnLink Midstream in a research report on Thursday, September 21st. UBS Group raised shares of EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, October 24th. BidaskClub downgraded shares of EnLink Midstream from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Citigroup lowered their target price on shares of EnLink Midstream from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Finally, Zacks Investment Research downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. EnLink Midstream currently has an average rating of “Hold” and an average price target of $18.92.
EnLink Midstream (ENLC) traded down $0.10 during midday trading on Friday, hitting $18.75. 420,615 shares of the stock were exchanged, compared to its average volume of 295,655. 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 firm has a market capitalization of $3,390.00, a P/E ratio of 625.00 and a beta of 2.59. EnLink Midstream has a 1-year low of $15.00 and a 1-year high of $20.45.
Several large investors have recently modified their holdings of the company. Chickasaw Capital Management LLC grew its position 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 valued at $279,820,000 after purchasing an additional 456,251 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position 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 valued at $64,464,000 after purchasing an additional 275,225 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of EnLink Midstream in the third quarter valued at about $1,130,000. Gen IV Investment Opportunities LLC grew its position in shares of EnLink Midstream by 0.8% in the third quarter. Gen IV Investment Opportunities LLC now owns 1,661,314 shares of the pipeline company’s stock valued at $28,658,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Signature Financial Management Inc. grew its position in shares of EnLink Midstream by 29.4% in the third quarter. Signature Financial Management Inc. now owns 30,700 shares of the pipeline company’s stock valued at $529,000 after purchasing an additional 6,975 shares during the last quarter. 34.08% of the stock is currently owned by institutional investors.
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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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