EnLink Midstream LLC (NYSE:ENLC) – Stock analysts at Jefferies Financial Group issued their Q1 2019 EPS estimates for EnLink Midstream in a research note issued to investors on Tuesday, October 16th. Jefferies Financial Group analyst C. Sighinolfi forecasts that the pipeline company will post earnings of $0.28 per share for the quarter. Jefferies Financial Group also issued estimates for EnLink Midstream’s Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.28 EPS and Q4 2019 earnings at $0.29 EPS.
EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, July 31st. The pipeline company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.05). The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.61 billion. EnLink Midstream had a return on equity of 0.86% and a net margin of 3.73%. The company’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS.
Several other brokerages have also recently commented on ENLC. ValuEngine cut shares of EnLink Midstream from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Raymond James reiterated a “buy” rating and issued a $19.00 price target on shares of EnLink Midstream in a research note on Friday, August 17th. Robert W. Baird reiterated a “hold” rating and issued a $18.00 price target on shares of EnLink Midstream in a research note on Monday, August 6th. Credit Suisse Group initiated coverage on shares of EnLink Midstream in a research note on Thursday, October 11th. They issued a “neutral” rating and a $19.00 price target on the stock. Finally, Barclays boosted their price target on shares of EnLink Midstream from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.79.
Shares of EnLink Midstream stock opened at $16.05 on Thursday. The firm has a market capitalization of $2.90 billion, a P/E ratio of -321.00 and a beta of 2.62. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.66. EnLink Midstream has a fifty-two week low of $13.80 and a fifty-two week high of $20.00.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, October 29th will be given a dividend of $0.271 per share. This represents a $1.08 annualized dividend and a dividend yield of 6.75%. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, October 26th. EnLink Midstream’s dividend payout ratio is currently -2,140.00%.
In other news, EVP Alaina K. Brooks sold 48,442 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $17.36, for a total transaction of $840,953.12. Following the sale, the executive vice president now directly owns 78,190 shares in the company, valued at approximately $1,357,378.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.24% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ENLC. Principal Financial Group Inc. raised its position in shares of EnLink Midstream by 28.8% during the 1st quarter. Principal Financial Group Inc. now owns 2,967,940 shares of the pipeline company’s stock valued at $43,481,000 after buying an additional 662,795 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in EnLink Midstream by 14.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,960,576 shares of the pipeline company’s stock valued at $81,601,000 after purchasing an additional 632,450 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in EnLink Midstream by 13.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,770 shares of the pipeline company’s stock valued at $59,446,000 after purchasing an additional 440,606 shares during the last quarter. Citadel Advisors LLC grew its holdings in EnLink Midstream by 1,756.7% during the 2nd quarter. Citadel Advisors LLC now owns 392,576 shares of the pipeline company’s stock valued at $6,458,000 after purchasing an additional 371,432 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in EnLink Midstream by 33.6% during the 2nd quarter. Millennium Management LLC now owns 1,464,440 shares of the pipeline company’s stock valued at $24,090,000 after purchasing an additional 368,066 shares during the last quarter. Hedge funds and other institutional investors own 32.39% of the company’s stock.
EnLink Midstream Company Profile
EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.
See Also: Calculate Your Return on Investment (ROI)
Receive News & Ratings for EnLink Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream and related companies with MarketBeat.com's FREE daily email newsletter.