Wall Street analysts predict that EnLink Midstream LLC (NYSE:ENLC) will report sales of $1.44 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for EnLink Midstream’s earnings. EnLink Midstream reported sales of $1.22 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 18%. The company is scheduled to issue its next earnings report 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 financial year, analysts expect that the company will post 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 research analysts that cover EnLink Midstream.
Several analysts recently issued reports on ENLC shares. UBS Group raised shares of EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, October 24th. Zacks Investment Research downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Citigroup reduced their price target on shares of EnLink Midstream from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. BidaskClub raised shares of EnLink Midstream from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Goldman Sachs Group raised shares of EnLink Midstream from a “sell” rating to a “neutral” rating in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $18.62.
EnLink Midstream (NYSE ENLC) traded down $0.35 during trading hours on Thursday, hitting $16.75. 855,211 shares of the stock traded hands, compared to its average volume of 395,318. EnLink Midstream has a 12 month low of $15.00 and a 12 month high of $20.45. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65. The company has a market cap of $3,024.87, a price-to-earnings ratio of 558.52 and a beta of 2.47.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a $0.259 dividend. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.26. This represents a $1.04 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend was Tuesday, January 30th. EnLink Midstream’s payout ratio is currently 3,467.82%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Chickasaw Capital Management LLC increased its position in shares of EnLink Midstream by 3.0% during 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 buying an additional 456,251 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in shares of EnLink Midstream by 8.0% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 3,737,067 shares of the pipeline company’s stock worth $64,464,000 after purchasing an additional 275,225 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in EnLink Midstream by 14.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock worth $42,577,000 after buying an additional 314,840 shares in the last quarter. Principal Financial Group Inc. boosted its stake in EnLink Midstream by 3.8% in the third quarter. Principal Financial Group Inc. now owns 2,182,575 shares of the pipeline company’s stock worth $37,650,000 after buying an additional 80,717 shares in the last quarter. Finally, Cushing Asset Management LP boosted its stake in EnLink Midstream by 8.5% in the fourth quarter. Cushing Asset Management LP now owns 2,049,495 shares of the pipeline company’s stock worth $36,072,000 after buying an additional 161,196 shares in the last quarter. Hedge funds and other institutional investors own 34.40% of the company’s stock.
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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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