$0.06 EPS Expected for EnLink Midstream LLC (NYSE:ENLC) This Quarter
Equities research analysts predict that EnLink Midstream LLC (NYSE:ENLC) will announce earnings of $0.06 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for EnLink Midstream’s earnings. The lowest EPS estimate is $0.00 and the highest is $0.11. EnLink Midstream posted earnings of $0.15 per share during the same quarter last year, which indicates a negative year over year growth rate of 60%. The business is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, August 6th.
According to Zacks, analysts expect that EnLink Midstream will report full-year earnings of $0.28 per share for the current fiscal year, with EPS estimates ranging from $0.17 to $0.39. For the next year, analysts forecast that the company will report earnings of $0.35 per share, with EPS estimates ranging from $0.05 to $0.55. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. EnLink Midstream had a negative net margin of 2.62% and a negative return on equity of 0.09%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $0.06 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year.
NYSE:ENLC traded up $0.09 during trading hours on Monday, hitting $10.28. 4,633,000 shares of the stock traded hands, compared to its average volume of 2,549,006. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.88. EnLink Midstream has a 1 year low of $8.90 and a 1 year high of $18.00. The stock has a market capitalization of $4.96 billion, a P/E ratio of -146.86, a price-to-earnings-growth ratio of 9.87 and a beta of 2.01. The firm has a 50 day moving average of $10.21.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Monday, July 29th will be given a dividend of $0.283 per share. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.13 dividend on an annualized basis and a yield of 11.01%. EnLink Midstream’s payout ratio is -1,600.00%.
A number of hedge funds have recently bought and sold shares of ENLC. BlackRock Inc. increased its holdings in shares of EnLink Midstream by 11.7% during the fourth quarter. BlackRock Inc. now owns 475,306 shares of the pipeline company’s stock valued at $4,512,000 after purchasing an additional 49,855 shares during the period. Northern Trust Corp grew its holdings in EnLink Midstream by 1.7% during the fourth quarter. Northern Trust Corp now owns 304,449 shares of the pipeline company’s stock worth $2,890,000 after acquiring an additional 4,988 shares during the period. NumerixS Investment Technologies Inc acquired a new position in EnLink Midstream during the fourth quarter worth about $48,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in EnLink Midstream during the fourth quarter worth about $535,000. Finally, Dimensional Fund Advisors LP grew its holdings in EnLink Midstream by 10.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,314,300 shares of the pipeline company’s stock worth $40,943,000 after acquiring an additional 395,089 shares during the period. Institutional investors and hedge funds own 49.34% 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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