Zacks: Brokerages Expect EnLink Midstream LLC (ENLC) to Post $0.17 Earnings Per Share

Brokerages forecast that EnLink Midstream LLC (NYSE:ENLC) will post earnings of $0.17 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for EnLink Midstream’s earnings, with estimates ranging from $0.08 to $0.32. EnLink Midstream reported earnings of ($0.02) per share during the same quarter last year, which suggests a positive year over year growth rate of 950%. The business is expected to report its next quarterly earnings report on Tuesday, February 13th.

According to Zacks, analysts expect that EnLink Midstream will report full year earnings of $0.30 per share for the current fiscal year, with EPS estimates ranging from $0.13 to $0.46. For the next fiscal year, analysts forecast that the firm will post earnings of $0.72 per share, with EPS estimates ranging from $0.28 to $1.55. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow EnLink Midstream.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.03 EPS for the quarter, missing the 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 business’s quarterly revenue was up 26.6% on a year-over-year basis.

Several brokerages have recently commented on ENLC. Jefferies Group restated a “hold” rating and issued a $16.00 price objective on shares of EnLink Midstream in a report on Friday. Bank of America began coverage on shares of EnLink Midstream in a report on Tuesday. They issued a “neutral” rating on the stock. BidaskClub lowered shares of EnLink Midstream from a “hold” rating to a “sell” rating in a report on Saturday, September 30th. Seaport Global Securities initiated coverage on shares of EnLink Midstream in a report on Tuesday, October 10th. They issued a “neutral” rating and a $16.00 price objective on the stock. Finally, Zacks Investment Research raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. EnLink Midstream has a consensus rating of “Hold” and an average price target of $18.92.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Chickasaw Capital Management LLC increased its stake in EnLink Midstream by 3.0% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,898,889 shares of the pipeline company’s stock worth $279,820,000 after buying an additional 456,251 shares during the period. Tortoise Capital Advisors L.L.C. increased its position in shares of EnLink Midstream by 8.0% in the 3rd 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. Dimensional Fund Advisors LP increased its position in shares of EnLink Midstream by 14.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock valued at $42,577,000 after purchasing an additional 314,840 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of EnLink Midstream by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,182,575 shares of the pipeline company’s stock valued at $37,650,000 after purchasing an additional 80,717 shares during the last quarter. Finally, RR Advisors LLC increased its position in shares of EnLink Midstream by 1.0% in the 3rd quarter. RR Advisors LLC now owns 1,908,000 shares of the pipeline company’s stock valued at $32,923,000 after purchasing an additional 19,000 shares during the last quarter. 34.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EnLink Midstream (NYSE ENLC) traded down $0.10 during mid-day trading on Wednesday, hitting $18.75. 420,615 shares of the stock traded hands, compared to its average volume of 295,655. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 0.85. EnLink Midstream has a 52-week low of $15.00 and a 52-week high of $20.45. The firm has a market cap of $3,390.00, a price-to-earnings ratio of 625.00 and a beta of 2.59.

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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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