Wall Street analysts expect that EnLink Midstream LLC (NYSE:ENLC) will announce earnings per share of $0.03 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for EnLink Midstream’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at ($0.03). EnLink Midstream reported earnings of $0.07 per share during the same quarter last year, which indicates a negative year over year growth rate of 57.1%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, April 30th.
On average, 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 ($0.02) to $0.68. For the next financial year, analysts forecast that the business will report earnings of $0.39 per share, with EPS estimates ranging from ($0.02) to $0.95. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, February 19th. The pipeline company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.51). The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.12 billion. EnLink Midstream had a negative net margin of 0.17% and a negative return on equity of 0.25%.
Several research analysts have recently issued reports on the company. Jefferies Financial Group lowered EnLink Midstream from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a research report on Monday. Zacks Investment Research upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, March 13th. Mitsubishi UFJ Financial Group upgraded EnLink Midstream from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 20th. Stifel Nicolaus assumed coverage on EnLink Midstream in a research report on Friday, February 8th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Citigroup assumed coverage on EnLink Midstream in a research report on Tuesday, March 12th. They issued a “buy” rating and a $13.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. EnLink Midstream has an average rating of “Hold” and an average price target of $16.17.
NYSE:ENLC opened at $12.61 on Friday. EnLink Midstream has a 12-month low of $8.90 and a 12-month high of $18.40. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.81.
In other EnLink Midstream news, major shareholder Goldman Sachs Group Inc bought 24,791 shares of EnLink Midstream stock in a transaction on Friday, February 1st. The shares were purchased at an average cost of $10.86 per share, for a total transaction of $269,230.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.45% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of ENLC. Chickasaw Capital Management LLC lifted its holdings in EnLink Midstream by 54.0% during the first quarter. Chickasaw Capital Management LLC now owns 22,530,811 shares of the pipeline company’s stock worth $287,944,000 after acquiring an additional 7,897,745 shares in the last quarter. Hennessy Advisors Inc. bought a new position in EnLink Midstream during the first quarter worth about $13,717,000. Tortoise Capital Advisors L.L.C. lifted its holdings in EnLink Midstream by 15.7% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 5,908,479 shares of the pipeline company’s stock worth $56,071,000 after acquiring an additional 801,913 shares in the last quarter. Citigroup Inc. lifted its holdings in EnLink Midstream by 37.7% during the fourth quarter. Citigroup Inc. now owns 2,392,627 shares of the pipeline company’s stock worth $22,705,000 after acquiring an additional 655,275 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in EnLink Midstream by 229.9% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 906,700 shares of the pipeline company’s stock worth $8,596,000 after acquiring an additional 631,900 shares in the last quarter. Hedge funds and other institutional investors own 33.57% of the company’s stock.
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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