EnLink Midstream Partners (NYSE:ENLK) announced its earnings results on Tuesday. The oil and gas producer reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.06), Morningstar.com reports. EnLink Midstream Partners had a return on equity of 6.41% and a net margin of 3.89%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company posted ($0.02) EPS. EnLink Midstream Partners’s quarterly revenue was up 51.2% on a year-over-year basis.
NYSE:ENLK traded down $0.32 during mid-day trading on Wednesday, reaching $14.31. The stock had a trading volume of 3,327,318 shares, compared to its average volume of 1,030,071. The company has a quick ratio of 0.64, a current ratio of 0.72 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.14 billion, a P/E ratio of 477.00 and a beta of 2.13. EnLink Midstream Partners has a twelve month low of $12.75 and a twelve month high of $19.45.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Monday, October 29th will be given a $0.39 dividend. The ex-dividend date is Friday, October 26th. This represents a $1.56 dividend on an annualized basis and a yield of 10.90%. EnLink Midstream Partners’s payout ratio is currently 5,200.00%.
Several equities research analysts have recently weighed in on ENLK shares. Zacks Investment Research upgraded shares of EnLink Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research note on Monday, July 16th. US Capital Advisors reiterated a “hold” rating on shares of EnLink Midstream Partners in a research note on Tuesday, July 17th. B. Riley set a $17.00 target price on shares of EnLink Midstream Partners and gave the stock a “hold” rating in a research note on Wednesday, August 1st. ValuEngine upgraded shares of EnLink Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Stifel Nicolaus upgraded shares of EnLink Midstream Partners from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. EnLink Midstream Partners has an average rating of “Hold” and a consensus price target of $17.79.
In other news, major shareholder Goldman Sachs Group Inc acquired 16,700 shares of EnLink Midstream Partners stock in a transaction that occurred on Friday, October 19th. The stock was purchased at an average price of $18.26 per share, for a total transaction of $304,942.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Botty Investors LLC purchased a new position in EnLink Midstream Partners in the third quarter valued at about $166,000. Creative Planning purchased a new position in EnLink Midstream Partners in the second quarter valued at about $171,000. US Bancorp DE increased its holdings in EnLink Midstream Partners by 271.1% in the third quarter. US Bancorp DE now owns 9,779 shares of the oil and gas producer’s stock valued at $182,000 after buying an additional 7,144 shares in the last quarter. Baldwin Brothers Inc. MA purchased a new position in EnLink Midstream Partners in the second quarter valued at about $208,000. Finally, LVW Advisors LLC purchased a new position in EnLink Midstream Partners in the third quarter valued at about $223,000. Hedge funds and other institutional investors own 41.67% of the company’s stock.
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EnLink Midstream Partners Company Profile
EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.
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