Zacks: Analysts Anticipate EnLink Midstream LLC (NYSE:ENLC) Will Announce Earnings of $0.04 Per Share

Brokerages expect EnLink Midstream LLC (NYSE:ENLC) to announce earnings per share of $0.04 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for EnLink Midstream’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at $0.01. EnLink Midstream reported earnings per share of ($0.34) in the same quarter last year, which suggests a positive year-over-year growth rate of 111.8%. The business is scheduled to announce its next earnings report after the market closes on Tuesday, February 25th.

On average, analysts expect that EnLink Midstream will report full year earnings of ($0.38) per share for the current year. For the next year, analysts expect that the business will post earnings of $0.21 per share, with EPS estimates ranging from $0.11 to $0.32. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover EnLink Midstream.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.05). EnLink Midstream had a negative net margin of 3.48% and a negative return on equity of 0.09%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business posted $0.04 earnings per share. The business’s revenue was down 33.4% compared to the same quarter last year.

ENLC has been the subject of several recent research reports. Royal Bank of Canada dropped their target price on shares of EnLink Midstream from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday. Robert W. Baird upgraded shares of EnLink Midstream from a “neutral” rating to an “outperform” rating and set a $6.00 target price for the company in a report on Thursday, December 5th. Barclays restated a “neutral” rating on shares of EnLink Midstream in a report on Wednesday, November 20th. UBS Group downgraded shares of EnLink Midstream from a “buy” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $7.00 in a report on Tuesday, October 8th. Finally, Wells Fargo & Co downgraded shares of EnLink Midstream from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $9.63.

In other news, Director Kyle D. Vann purchased 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the acquisition, the director now directly owns 124,907 shares in the company, valued at approximately $608,297.09. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.45% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ENLC. Arlington Partners LLC purchased a new stake in shares of EnLink Midstream during the fourth quarter worth about $30,000. Evoke Wealth LLC purchased a new stake in EnLink Midstream in the third quarter valued at approximately $45,000. Peterson Wealth Management purchased a new stake in EnLink Midstream in the fourth quarter valued at approximately $63,000. M&T Bank Corp purchased a new stake in EnLink Midstream in the second quarter valued at approximately $103,000. Finally, Virtu Financial LLC grew its holdings in EnLink Midstream by 20.4% in the third quarter. Virtu Financial LLC now owns 13,760 shares of the pipeline company’s stock valued at $117,000 after purchasing an additional 2,335 shares during the period. Institutional investors and hedge funds own 46.82% of the company’s stock.

NYSE:ENLC traded up $0.07 during mid-day trading on Monday, hitting $5.92. 3,853,510 shares of the company’s stock traded hands, compared to its average volume of 7,150,251. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50 day simple moving average is $5.57 and its 200 day simple moving average is $7.30. EnLink Midstream has a 1 year low of $4.33 and a 1 year high of $13.10. The company has a market cap of $2.89 billion, a PE ratio of -84.57, a price-to-earnings-growth ratio of 6.92 and a beta of 2.02.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.188 per share. The ex-dividend date is Thursday, January 30th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 12.70%. EnLink Midstream’s dividend payout ratio (DPR) is presently -1,614.29%.

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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