EnLink Midstream Partners LP (ENLK) Expected to Announce Quarterly Sales of $1.99 Billion
Analysts expect EnLink Midstream Partners LP (NYSE:ENLK) to report $1.99 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for EnLink Midstream Partners’ earnings, with the lowest sales estimate coming in at $1.81 billion and the highest estimate coming in at $2.07 billion. EnLink Midstream Partners posted sales of $1.40 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 42.1%. The firm is expected to report its next earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that EnLink Midstream Partners will report full year sales of $7.51 billion for the current fiscal year, with estimates ranging from $7.17 billion to $7.76 billion. For the next year, analysts expect that the business will post sales of $8.26 billion per share, with estimates ranging from $7.32 billion to $9.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover EnLink Midstream Partners.
EnLink Midstream Partners (NYSE:ENLK) last posted its quarterly earnings data on Tuesday, July 31st. The oil and gas producer reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.74 billion. EnLink Midstream Partners had a net margin of 3.89% and a return on equity of 6.41%. EnLink Midstream Partners’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share.
In other news, EVP Alaina K. Brooks sold 55,619 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $17.65, for a total transaction of $981,675.35. Following the completion of the sale, the executive vice president now directly owns 80,648 shares of the company’s stock, valued at $1,423,437.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Creative Planning purchased a new stake in EnLink Midstream Partners in the second quarter worth about $171,000. Baldwin Brothers Inc. MA purchased a new stake in EnLink Midstream Partners in the second quarter worth about $208,000. First Capital Advisors Group LLC. purchased a new stake in EnLink Midstream Partners in the second quarter worth about $235,000. Cornerstone Wealth Management LLC purchased a new stake in EnLink Midstream Partners in the second quarter worth about $1,048,000. Finally, Stephens Inc. AR lifted its stake in EnLink Midstream Partners by 30.7% in the second quarter. Stephens Inc. AR now owns 19,841 shares of the oil and gas producer’s stock worth $308,000 after acquiring an additional 4,658 shares during the period. 42.09% of the stock is owned by institutional investors.
NYSE ENLK traded up $0.31 on Wednesday, hitting $18.40. 593,000 shares of the stock were exchanged, compared to its average volume of 945,714. 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 firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 614.00 and a beta of 2.27. EnLink Midstream Partners has a 52-week low of $12.75 and a 52-week high of $18.58.
The business also recently announced a quarterly dividend, which was paid on Monday, August 13th. Stockholders of record on Monday, July 30th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.48%. The ex-dividend date was Friday, July 27th. EnLink Midstream Partners’s dividend payout ratio is currently 5,200.00%.
About EnLink Midstream Partners
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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