Zacks: Brokerages Anticipate EnLink Midstream LLC (ENLC) to Announce $0.21 Earnings Per Share

Wall Street analysts forecast that EnLink Midstream LLC (NYSE:ENLC) will announce $0.21 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for EnLink Midstream’s earnings, with estimates ranging from $0.04 to $0.34. EnLink Midstream reported earnings per share of ($0.01) during the same quarter last year, which indicates a positive year-over-year growth rate of 2,200%. The business is scheduled to issue its next earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that EnLink Midstream will report full year earnings of $0.46 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.61. For the next fiscal year, analysts anticipate that the business will post earnings of $0.74 per share, with EPS estimates ranging from $0.14 to $1.14. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for EnLink Midstream.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Tuesday, November 6th. The pipeline company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.08). EnLink Midstream had a net margin of 3.39% and a return on equity of 0.89%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 51.2% on a year-over-year basis.

A number of research analysts have recently weighed in on ENLC shares. ValuEngine cut EnLink Midstream from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Credit Suisse Group started coverage on EnLink Midstream in a research report on Thursday, October 11th. They set a “neutral” rating and a $19.00 price objective on the stock. Raymond James reaffirmed a “buy” rating and set a $19.00 price objective on shares of EnLink Midstream in a research report on Friday, August 17th. Mitsubishi UFJ Financial Group raised EnLink Midstream from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $20.00 to $18.00 in a research report on Thursday, November 8th. Finally, Tudor Pickering assumed coverage on EnLink Midstream in a research report on Monday, November 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.57.

In other EnLink Midstream news, CAO Susan J. Mcaden purchased 3,000 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were bought at an average cost of $12.08 per share, with a total value of $36,240.00. Following the acquisition, the chief accounting officer now owns 25,944 shares in the company, valued at $313,403.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.24% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in ENLC. Mirae Asset Global Investments Co. Ltd. bought a new stake in EnLink Midstream in the 3rd quarter worth approximately $10,750,000. Tortoise Capital Advisors L.L.C. increased its stake in EnLink Midstream by 14.6% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,960,576 shares of the pipeline company’s stock worth $81,601,000 after acquiring an additional 632,450 shares during the last quarter. RR Advisors LLC increased its stake in EnLink Midstream by 19.2% in the 3rd quarter. RR Advisors LLC now owns 3,361,000 shares of the pipeline company’s stock worth $55,303,000 after acquiring an additional 541,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in EnLink Midstream by 13.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,770 shares of the pipeline company’s stock worth $59,446,000 after acquiring an additional 440,606 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in EnLink Midstream by 1,756.7% in the 2nd quarter. Citadel Advisors LLC now owns 392,576 shares of the pipeline company’s stock worth $6,458,000 after acquiring an additional 371,432 shares during the last quarter. 32.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of ENLC stock traded down $0.03 during trading hours on Tuesday, reaching $11.43. 911,103 shares of the company traded hands, compared to its average volume of 1,307,455. EnLink Midstream has a 12-month low of $11.11 and a 12-month high of $20.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.71. The stock has a market cap of $2.07 billion, a P/E ratio of -228.60 and a beta of 2.33.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, October 29th were issued a $0.271 dividend. The ex-dividend date of this dividend was Friday, October 26th. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 9.48%. EnLink Midstream’s payout ratio is currently -2,160.00%.

EnLink Midstream Company Profile

EnLink Midstream, LLC focuses on providing midstream energy services in the United States. It operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The company is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, exporting, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, and trans-loading crude oil, and condensate.

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