EnLink Midstream LLC (ENLC) Expected to Announce Earnings of $0.17 Per Share
Wall Street brokerages expect EnLink Midstream LLC (NYSE:ENLC) to report earnings per share of $0.17 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for EnLink Midstream’s earnings, with estimates ranging from $0.08 to $0.32. EnLink Midstream reported earnings per share of ($0.02) in the same quarter last year, which would indicate a positive year over year growth rate of 950%. The business is expected to issue its next quarterly earnings report on Tuesday, February 13th.
According to Zacks, analysts expect that EnLink Midstream will report full-year earnings of $0.30 per share for the current year, with EPS estimates ranging from $0.13 to $0.46. For the next financial year, analysts anticipate that the company will report earnings of $0.72 per share, with EPS estimates ranging from $0.28 to $1.55. Zacks’ EPS calculations are an average based on a survey of research analysts that follow EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. EnLink Midstream had a return on equity of 0.15% and a net margin of 0.12%. EnLink Midstream’s revenue for the quarter was up 26.6% on a year-over-year basis.
ENLC has been the topic of several recent research reports. UBS Group upgraded EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, October 24th. Goldman Sachs Group upgraded EnLink Midstream from a “sell” rating to a “neutral” rating in a research report on Friday, November 17th. BidaskClub upgraded EnLink Midstream from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 7th. Zacks Investment Research lowered EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Robert W. Baird restated a “hold” rating and set a $21.00 price target on shares of EnLink Midstream in a research report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. EnLink Midstream presently has a consensus rating of “Hold” and a consensus target price of $18.83.
Shares of EnLink Midstream (NYSE ENLC) opened at $18.35 on Wednesday. The stock has a market capitalization of $3,310.00, a PE ratio of 611.67 and a beta of 2.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 0.85. EnLink Midstream has a 1-year low of $15.00 and a 1-year high of $20.45.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ENLC. Bank of New York Mellon Corp lifted its stake in shares of EnLink Midstream by 8.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 79,353 shares of the pipeline company’s stock valued at $1,396,000 after purchasing an additional 6,238 shares during the period. Neuberger Berman Group LLC raised its stake in EnLink Midstream by 0.7% during the second quarter. Neuberger Berman Group LLC now owns 16,519 shares of the pipeline company’s stock valued at $291,000 after buying an additional 109 shares during the last quarter. Keybank National Association OH raised its stake in EnLink Midstream by 5.2% during the second quarter. Keybank National Association OH now owns 26,440 shares of the pipeline company’s stock valued at $465,000 after buying an additional 1,310 shares during the last quarter. Swiss National Bank raised its stake in EnLink Midstream by 16.7% during the second quarter. Swiss National Bank now owns 105,023 shares of the pipeline company’s stock valued at $1,848,000 after buying an additional 15,000 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in EnLink Midstream by 142.8% during the second quarter. Lazard Asset Management LLC now owns 400,652 shares of the pipeline company’s stock valued at $7,051,000 after buying an additional 235,609 shares during the last quarter. Institutional investors own 34.08% of the company’s stock.
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EnLink Midstream Company Profile
EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.
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