Wall Street brokerages expect EnLink Midstream LLC (NYSE:ENLC) to report sales of $1.71 billion for the current quarter, Zacks reports. Three analysts have provided estimates for EnLink Midstream’s earnings. The lowest sales estimate is $1.53 billion and the highest is $1.82 billion. EnLink Midstream posted sales of $2.06 billion during the same quarter last year, which would indicate a negative year over year growth rate of 17%. The business is scheduled to issue its next earnings report on Tuesday, February 18th.
On average, analysts expect that EnLink Midstream will report full year sales of $6.70 billion for the current fiscal year, with estimates ranging from $6.42 billion to $6.96 billion. For the next financial year, analysts anticipate that the business will report sales of $7.06 billion, with estimates ranging from $6.15 billion to $7.88 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.77 billion. EnLink Midstream had a negative return on equity of 0.09% and a negative net margin of 3.48%. During the same quarter in the previous year, the company posted $0.04 earnings per share. EnLink Midstream’s revenue for the quarter was down 33.4% compared to the same quarter last year.
EnLink Midstream stock traded up $0.02 during midday trading on Friday, hitting $4.41. The stock had a trading volume of 159,147 shares, compared to its average volume of 3,725,719. The firm’s fifty day moving average is $5.88 and its two-hundred day moving average is $8.37. The company has a market capitalization of $2.32 billion, a PE ratio of -63.64, a P/E/G ratio of 4.85 and a beta of 1.95. EnLink Midstream has a 52-week low of $4.33 and a 52-week high of $13.10. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Monday, October 28th were paid a dividend of $0.283 per share. The ex-dividend date was Friday, October 25th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 25.67%. EnLink Midstream’s dividend payout ratio (DPR) is -1,614.29%.
In other news, Director Kyle D. Vann purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $4.87 per share, with a total value of $48,700.00. Following the purchase, 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 accessible through this hyperlink. 1.45% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in EnLink Midstream by 21,575.0% in the 2nd quarter. Invesco Ltd. now owns 13,994,487 shares of the pipeline company’s stock valued at $141,204,000 after acquiring an additional 13,929,922 shares during the last quarter. Alps Advisors Inc. lifted its position in EnLink Midstream by 37.7% during the third quarter. Alps Advisors Inc. now owns 31,335,519 shares of the pipeline company’s stock worth $266,352,000 after buying an additional 8,578,208 shares during the period. Brookfield Asset Management Inc. boosted its stake in EnLink Midstream by 20.4% in the 2nd quarter. Brookfield Asset Management Inc. now owns 17,233,683 shares of the pipeline company’s stock worth $173,887,000 after buying an additional 2,919,413 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in EnLink Midstream by 935.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,615,498 shares of the pipeline company’s stock worth $26,391,000 after buying an additional 2,362,809 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of EnLink Midstream by 61.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,915,114 shares of the pipeline company’s stock valued at $48,364,000 after acquiring an additional 1,869,064 shares during the last quarter. 46.82% of the stock is currently owned by institutional investors and hedge funds.
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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