Brokerages Expect EnLink Midstream LLC (ENLC) to Post $0.06 EPS

Wall Street brokerages expect EnLink Midstream LLC (NYSE:ENLC) to report earnings per share of $0.06 for the current quarter, according to Zacks. Three analysts have issued estimates for EnLink Midstream’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.00. EnLink Midstream reported earnings per share of $0.15 in the same quarter last year, which would suggest a negative year over year growth rate of 60%. The company is scheduled to issue its next earnings report on Tuesday, July 30th.

On average, analysts expect that EnLink Midstream will report full year earnings of $0.32 per share for the current financial year, with EPS estimates ranging from $0.17 to $0.42. For the next financial year, analysts expect that the firm will report earnings of $0.38 per share, with EPS estimates ranging from $0.11 to $0.57. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover EnLink Midstream.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. EnLink Midstream had a negative net margin of 2.62% and a negative return on equity of 0.09%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business earned $0.06 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis.

A number of equities research analysts recently weighed in on ENLC shares. Zacks Investment Research cut shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Barclays assumed coverage on EnLink Midstream in a report on Friday, March 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. ValuEngine raised EnLink Midstream from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Citigroup assumed coverage on EnLink Midstream in a report on Tuesday, March 12th. They set a “buy” rating and a $13.00 target price on the stock. Finally, Stifel Nicolaus lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.80.

Shares of NYSE ENLC traded down $0.07 during midday trading on Thursday, reaching $10.18. 1,844,721 shares of the company traded hands, compared to its average volume of 2,654,448. EnLink Midstream has a 52 week low of $8.90 and a 52 week high of $18.00. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.88. The stock has a market cap of $5.01 billion, a P/E ratio of -145.43, a P/E/G ratio of 9.47 and a beta of 2.13.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Monday, April 29th were issued a dividend of $0.279 per share. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a yield of 10.96%. The ex-dividend date of this dividend was Friday, April 26th. EnLink Midstream’s payout ratio is presently -1,600.00%.

Large investors have recently added to or reduced their stakes in the stock. Avestar Capital LLC acquired a new position in EnLink Midstream during the first quarter worth about $28,000. Patriot Financial Group Insurance Agency LLC acquired a new position in EnLink Midstream during the first quarter worth about $31,000. Macquarie Group Ltd. increased its stake in EnLink Midstream by 263.3% in the 4th quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 2,899 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in EnLink Midstream in the 1st quarter worth about $44,000. Finally, Squar Milner Financial Services LLC increased its stake in EnLink Midstream by 135.2% in the 1st quarter. Squar Milner Financial Services LLC now owns 3,658 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 2,103 shares in the last quarter. 49.18% of the stock is currently 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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Earnings History and Estimates for EnLink Midstream (NYSE:ENLC)

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