Analysts Expect EnLink Midstream LLC (NYSE:ENLC) Will Post Earnings of $0.06 Per Share

Wall Street analysts predict that EnLink Midstream LLC (NYSE:ENLC) will report earnings per share of $0.06 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for EnLink Midstream’s earnings, with estimates ranging from $0.00 to $0.11. EnLink Midstream posted earnings per share of $0.15 in the same quarter last year, which indicates a negative year over year growth rate of 60%. The company is scheduled to issue its next earnings report after the market closes on Tuesday, August 6th.

According to Zacks, analysts expect that EnLink Midstream will report full-year earnings of $0.28 per share for the current fiscal year, with EPS estimates ranging from $0.17 to $0.39. For the next fiscal year, analysts forecast that the business will post earnings of $0.35 per share, with EPS estimates ranging from $0.05 to $0.55. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover EnLink Midstream.

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

Several brokerages have weighed in on ENLC. Stifel Nicolaus began coverage on SkyWest in a research report on Monday, April 15th. They issued a “buy” rating and a $68.00 target price on the stock. Barclays set a €81.00 ($94.19) target price on Fresenius Medical Care AG & Co. KGaA and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group set a $189.00 target price on salesforce.com and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.50.

NYSE ENLC traded down $0.10 during trading hours on Monday, hitting $10.19. The company had a trading volume of 5,996,315 shares, compared to its average volume of 1,752,729. EnLink Midstream has a fifty-two week low of $8.90 and a fifty-two week high of $18.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $10.21. The company has a market cap of $5.01 billion, a price-to-earnings ratio of -145.57, a P/E/G ratio of 9.97 and a beta of 2.00.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Monday, July 29th will be issued a dividend of $0.283 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 11.11%. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, July 26th. EnLink Midstream’s dividend payout ratio (DPR) is -1,600.00%.

Institutional investors and hedge funds have recently modified their holdings of the company. Avestar Capital LLC acquired a new position in shares of EnLink Midstream during the first quarter valued at $28,000. Arlington Partners LLC acquired a new position in shares of EnLink Midstream during the second quarter valued at $30,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of EnLink Midstream during the first quarter valued at $31,000. Valeo Financial Advisors LLC acquired a new position in shares of EnLink Midstream during the second quarter valued at $35,000. Finally, Macquarie Group Ltd. increased its holdings in shares of EnLink Midstream by 263.3% during the fourth quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 2,899 shares during the period. 49.19% of the stock is currently owned by institutional investors.

EnLink Midstream Company Profile

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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