Analysts predict that EnLink Midstream LLC (NYSE:ENLC) will announce $0.17 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for EnLink Midstream’s earnings. The highest EPS estimate is $0.34 and the lowest is $0.04. EnLink Midstream reported earnings per share of ($0.01) during the same quarter last year, which indicates a positive year-over-year growth rate of 1,800%. The company is scheduled to report its next earnings report on Tuesday, February 19th.
According to Zacks, analysts expect that EnLink Midstream will report full-year earnings of $0.42 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.61. For the next fiscal year, analysts forecast that the firm will report earnings of $0.43 per share, with EPS estimates ranging from $0.14 to $1.11. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, November 6th. The pipeline company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.08). The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.74 billion. EnLink Midstream had a return on equity of 0.89% and a net margin of 3.39%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share.
A number of brokerages have weighed in on ENLC. Credit Suisse Group upgraded EnLink Midstream from a “neutral” rating to an “outperform” rating and set a $19.00 target price for the company in a report on Tuesday, November 13th. ValuEngine upgraded EnLink Midstream from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Tudor Pickering began coverage on EnLink Midstream in a report on Monday, November 5th. They issued a “hold” rating for the company. Jefferies Financial Group upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Finally, Zacks Investment Research downgraded EnLink Midstream from a “buy” rating to a “hold” rating in a report on Monday, December 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.15.
ENLC stock traded up $0.38 during mid-day trading on Friday, reaching $11.72. The company’s stock had a trading volume of 1,476,709 shares, compared to its average volume of 1,858,377. The company has a market cap of $2.12 billion, a P/E ratio of -234.40 and a beta of 2.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.79 and a current ratio of 0.79. EnLink Midstream has a 12 month low of $8.90 and a 12 month high of $20.00.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Thursday, January 24th will be issued a dividend of $0.275 per share. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, January 23rd. This represents a $1.10 annualized dividend and a dividend yield of 9.39%. EnLink Midstream’s payout ratio is currently -2,160.00%.
In other news, CAO Susan J. Mcaden acquired 3,000 shares of the firm’s stock in a transaction dated Friday, November 9th. The stock was purchased at an average price of $12.08 per share, for a total transaction of $36,240.00. Following the completion of the acquisition, the chief accounting officer now directly owns 25,944 shares in the company, valued at approximately $313,403.52. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.45% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. boosted its position in shares of EnLink Midstream by 2.9% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 5,106,566 shares of the pipeline company’s stock valued at $84,003,000 after buying an additional 145,990 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of EnLink Midstream by 8.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,919,211 shares of the pipeline company’s stock valued at $64,469,000 after buying an additional 305,441 shares during the last quarter. RR Advisors LLC boosted its position in shares of EnLink Midstream by 19.2% during the third quarter. RR Advisors LLC now owns 3,361,000 shares of the pipeline company’s stock valued at $55,303,000 after buying an additional 541,000 shares during the last quarter. Millennium Management LLC boosted its position in shares of EnLink Midstream by 33.6% during the second quarter. Millennium Management LLC now owns 1,464,440 shares of the pipeline company’s stock valued at $24,090,000 after buying an additional 368,066 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of EnLink Midstream during the third quarter valued at approximately $10,750,000. 32.21% of the stock is currently owned by institutional investors.
About EnLink Midstream
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.
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