Zacks: Brokerages Expect EnLink Midstream LLC (ENLC) Will Announce Earnings of $0.17 Per Share

Wall Street analysts expect EnLink Midstream LLC (NYSE:ENLC) to post $0.17 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued 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 indicates a positive year over year growth rate of 950%. The company is scheduled to report its next earnings results 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 forecast that the company will post earnings of $0.72 per share, with EPS estimates ranging from $0.28 to $1.55. Zacks’ earnings per share calculations are an average based on a survey of 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 the Zacks’ consensus estimate of $0.14 by ($0.11). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. EnLink Midstream had a return on equity of 0.15% and a net margin of 0.12%. The company’s revenue was up 26.6% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. Robert W. Baird reissued a “hold” rating and set a $21.00 target price on shares of EnLink Midstream in a research report on Thursday, September 21st. BidaskClub raised shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research report on Friday, September 8th. UBS Group raised shares of EnLink Midstream from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, October 24th. Citigroup cut their target price on shares of EnLink Midstream from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. Finally, Zacks Investment Research lowered shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. EnLink Midstream has a consensus rating of “Hold” and a consensus price target of $18.83.

Shares of EnLink Midstream (NYSE ENLC) traded up $0.10 during trading hours on Friday, reaching $17.20. 196,484 shares of the company were exchanged, compared to its average volume of 293,164. The company has a market capitalization of $3,088.07, a PE ratio of 573.52 and a beta of 2.58. EnLink Midstream has a 12-month low of $15.00 and a 12-month high of $20.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85.

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in EnLink Midstream by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after acquiring an additional 599 shares during the period. Linscomb & Williams Inc. bought a new stake in EnLink Midstream in the third quarter valued at about $150,000. WFG Advisors LP increased its stake in EnLink Midstream by 11.5% in the second quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock valued at $162,000 after acquiring an additional 950 shares during the period. GSA Capital Partners LLP bought a new stake in EnLink Midstream during the second quarter worth about $178,000. Finally, Nationwide Fund Advisors grew its stake in EnLink Midstream by 397.6% during the third quarter. Nationwide Fund Advisors now owns 12,013 shares of the pipeline company’s stock worth $207,000 after buying an additional 9,599 shares during the last quarter. 34.08% of the stock is owned by institutional investors and hedge funds.

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About EnLink Midstream

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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