Wall Street analysts expect EnLink Midstream LLC (NYSE:ENLC) to announce earnings of $0.05 per share for the current quarter, Zacks reports. Three analysts have issued estimates for EnLink Midstream’s earnings, with estimates ranging from $0.02 to $0.07. EnLink Midstream posted earnings per share of ($0.34) during the same quarter last year, which would indicate a positive year-over-year growth rate of 114.7%. The business is expected to report its next earnings results after the market closes on Tuesday, February 25th.
On average, analysts expect that EnLink Midstream will report full year earnings of ($0.35) per share for the current fiscal year. For the next financial year, analysts forecast that the firm will report earnings of $0.21 per share, with EPS estimates ranging from $0.11 to $0.32. Zacks’ EPS averages are an average based on a survey of research analysts that follow EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). EnLink Midstream had a negative return on equity of 0.09% and a negative net margin of 3.48%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the business posted $0.04 earnings per share. The firm’s revenue was down 33.4% compared to the same quarter last year.
ENLC has been the subject of several recent analyst reports. Barclays reissued a “neutral” rating on shares of EnLink Midstream in a report on Wednesday, November 20th. UBS Group cut EnLink Midstream from a “buy” rating to a “neutral” rating and reduced their price target for the company from $10.00 to $7.00 in a report on Tuesday, October 8th. Zacks Investment Research raised EnLink Midstream from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. TheStreet cut EnLink Midstream from a “c-” rating to a “d+” rating in a report on Friday, November 15th. Finally, Robert W. Baird raised EnLink Midstream from a “neutral” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $9.88.
EnLink Midstream stock opened at $5.73 on Monday. EnLink Midstream has a twelve month low of $4.33 and a twelve month high of $13.10. The stock has a 50 day moving average of $5.53 and a two-hundred day moving average of $7.34. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -81.86, a PEG ratio of 6.92 and a beta of 2.02.
In other EnLink Midstream news, Director Kyle D. Vann purchased 10,000 shares of EnLink Midstream stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average cost of $4.87 per share, with a total value of $48,700.00. Following the acquisition, the director now directly owns 124,907 shares of the company’s stock, valued at $608,297.09. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.45% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Creative Planning raised its holdings in EnLink Midstream by 9.3% during the third quarter. Creative Planning now owns 18,221 shares of the pipeline company’s stock worth $155,000 after purchasing an additional 1,546 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in EnLink Midstream by 2.2% during the third quarter. Envestnet Asset Management Inc. now owns 93,479 shares of the pipeline company’s stock worth $795,000 after purchasing an additional 1,976 shares during the last quarter. Virtu Financial LLC raised its holdings in EnLink Midstream by 20.4% during the third quarter. Virtu Financial LLC now owns 13,760 shares of the pipeline company’s stock worth $117,000 after purchasing an additional 2,335 shares during the last quarter. BP Capital Fund Advisors LLC raised its holdings in EnLink Midstream by 1.2% during the second quarter. BP Capital Fund Advisors LLC now owns 227,846 shares of the pipeline company’s stock worth $2,299,000 after purchasing an additional 2,714 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in EnLink Midstream by 3.1% during the second quarter. Royal Bank of Canada now owns 125,050 shares of the pipeline company’s stock worth $1,262,000 after purchasing an additional 3,759 shares during the last quarter. 46.82% of the stock is owned by hedge funds and other institutional investors.
About EnLink Midstream
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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