EnLink Midstream LLC (NYSE:ENLC) – Investment analysts at Jefferies Financial Group lifted their Q2 2019 earnings estimates for EnLink Midstream in a report issued on Monday, April 15th. Jefferies Financial Group analyst C. Sighinolfi now forecasts that the pipeline company will post earnings of $0.10 per share for the quarter, up from their previous estimate of $0.08. Jefferies Financial Group has a “Hold” rating and a $13.00 price target on the stock. Jefferies Financial Group also issued estimates for EnLink Midstream’s Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.13 EPS, FY2019 earnings at $0.42 EPS, Q1 2020 earnings at $0.15 EPS, Q3 2020 earnings at $0.14 EPS, FY2020 earnings at $0.56 EPS, FY2021 earnings at $0.57 EPS, FY2022 earnings at $0.60 EPS and FY2023 earnings at $0.63 EPS.
Other equities analysts have also recently issued reports about the company. Barclays began coverage on EnLink Midstream in a report on Friday, March 22nd. They set an “equal weight” rating and a $14.00 price target for the company. Citigroup began coverage on EnLink Midstream in a report on Tuesday, March 12th. They set a “buy” rating and a $13.00 price target for the company. Stifel Nicolaus cut EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a report on Monday. Zacks Investment Research upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, March 13th. Finally, Mitsubishi UFJ Financial Group upgraded EnLink Midstream from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 20th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. EnLink Midstream presently has an average rating of “Hold” and an average price target of $16.17.
NYSE ENLC opened at $12.61 on Wednesday. The firm has a market cap of $6.09 billion, a PE ratio of -180.14, a price-to-earnings-growth ratio of 11.12 and a beta of 2.29. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.81 and a quick ratio of 0.81. EnLink Midstream has a twelve month low of $8.90 and a twelve month high of $18.40.
EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, February 19th. The pipeline company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.51). EnLink Midstream had a negative return on equity of 0.25% and a negative net margin of 0.17%. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.12 billion.
In other EnLink Midstream news, major shareholder Goldman Sachs Group Inc purchased 24,791 shares of the stock in a transaction dated Friday, February 1st. The stock was acquired at an average cost of $10.86 per share, for a total transaction of $269,230.26. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.45% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ENLC. Macquarie Group Ltd. boosted its stake in shares of EnLink Midstream by 263.3% in the 4th quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock valued at $38,000 after buying an additional 2,899 shares during the period. NumerixS Investment Technologies Inc purchased a new position in shares of EnLink Midstream in the 4th quarter valued at about $48,000. Parkwood LLC purchased a new position in shares of EnLink Midstream in the 4th quarter valued at about $102,000. Virtu Financial LLC purchased a new position in shares of EnLink Midstream in the 4th quarter valued at about $117,000. Finally, South Texas Money Management Ltd. purchased a new position in shares of EnLink Midstream in the 4th quarter valued at about $126,000. Institutional investors own 33.57% 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 Texas, Oklahoma, Louisiana, and Crude and Condensate segments. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.
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