EnLink Midstream LLC (NYSE:ENLC) – Investment analysts at Jefferies Financial Group issued their Q1 2019 earnings estimates for shares of EnLink Midstream in a research report issued to clients and investors on Tuesday, October 16th. Jefferies Financial Group analyst C. Sighinolfi expects that the pipeline company will post earnings of $0.28 per share for the quarter. Jefferies Financial Group also issued estimates for EnLink Midstream’s Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.28 EPS and Q4 2019 earnings at $0.29 EPS.
EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.05). The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.61 billion. EnLink Midstream had a return on equity of 0.86% and a net margin of 3.73%. EnLink Midstream’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 earnings per share.
ENLC has been the subject of a number of other research reports. Robert W. Baird reiterated a “hold” rating and set a $18.00 price target on shares of EnLink Midstream in a research report on Monday, August 6th. ValuEngine lowered EnLink Midstream from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Wednesday. Raymond James reiterated a “buy” rating and set a $19.00 price target on shares of EnLink Midstream in a research report on Friday, August 17th. Finally, 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 target for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.79.
Shares of ENLC opened at $15.87 on Thursday. The firm has a market cap of $2.98 billion, a P/E ratio of -317.40 and a beta of 2.62. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.66. EnLink Midstream has a 12 month low of $13.80 and a 12 month high of $20.00.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, October 29th will be issued a $0.271 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 6.83%. EnLink Midstream’s dividend payout ratio is -2,140.00%.
In other news, EVP Alaina K. Brooks sold 48,442 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $17.36, for a total value of $840,953.12. Following the completion of the sale, the executive vice president now owns 78,190 shares in the company, valued at $1,357,378.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.24% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Tortoise Index Solutions LLC lifted its holdings in shares of EnLink Midstream by 11.5% in the second quarter. Tortoise Index Solutions LLC now owns 33,249 shares of the pipeline company’s stock valued at $547,000 after buying an additional 3,425 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of EnLink Midstream by 4.9% during the first quarter. Wells Fargo & Company MN now owns 80,712 shares of the pipeline company’s stock valued at $1,182,000 after purchasing an additional 3,748 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of EnLink Midstream by 110.1% during the first quarter. Russell Investments Group Ltd. now owns 7,934 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 4,157 shares during the last quarter. Stephens Inc. AR lifted its holdings in shares of EnLink Midstream by 21.5% during the second quarter. Stephens Inc. AR now owns 28,179 shares of the pipeline company’s stock valued at $464,000 after purchasing an additional 4,982 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of EnLink Midstream during the second quarter valued at $102,000. Institutional investors and hedge funds own 32.40% of the company’s stock.
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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