EnLink Midstream (ENLC) Expected to Announce Quarterly Sales of $1.48 Billion

Equities analysts expect EnLink Midstream (NYSE:ENLC) to announce sales of $1.48 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for EnLink Midstream’s earnings, with the lowest sales estimate coming in at $1.21 billion and the highest estimate coming in at $1.75 billion. EnLink Midstream reported sales of $1.32 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 12.1%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, May 1st.

On average, analysts expect that EnLink Midstream will report full year sales of $1.48 billion for the current financial year, with estimates ranging from $5.47 billion to $7.43 billion. For the next year, analysts anticipate that the company will post sales of $7.06 billion per share, with estimates ranging from $5.79 billion to $8.33 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow EnLink Midstream.

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EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings results on Tuesday, February 20th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.20). The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.44 billion. EnLink Midstream had a return on equity of 0.23% and a net margin of 3.71%.

Several analysts have issued reports on ENLC shares. Credit Suisse Group began coverage on shares of EnLink Midstream in a research report on Thursday, January 4th. They issued a “neutral” rating and a $19.00 price target on the stock. UBS decreased their target price on shares of EnLink Midstream from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $20.00 target price on shares of EnLink Midstream in a research report on Tuesday, January 16th. JPMorgan Chase reiterated a “neutral” rating and set a $17.00 target price (down from $18.00) on shares of EnLink Midstream in a research report on Wednesday, March 14th. Finally, Bank of America decreased their target price on shares of EnLink Midstream from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.93.

A number of hedge funds have recently made changes to their positions in the stock. Chickasaw Capital Management LLC lifted its holdings in EnLink Midstream by 3.0% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,898,889 shares of the pipeline company’s stock valued at $279,820,000 after purchasing an additional 456,251 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of EnLink Midstream by 8.0% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 3,737,067 shares of the pipeline company’s stock worth $64,464,000 after acquiring an additional 275,225 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of EnLink Midstream by 14.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,468,233 shares of the pipeline company’s stock worth $42,577,000 after acquiring an additional 314,840 shares during the last quarter. Cushing Asset Management LP raised its stake in shares of EnLink Midstream by 8.5% in the fourth quarter. Cushing Asset Management LP now owns 2,049,495 shares of the pipeline company’s stock worth $36,072,000 after acquiring an additional 161,196 shares during the last quarter. Finally, HBK Investments L P raised its stake in shares of EnLink Midstream by 4.0% in the fourth quarter. HBK Investments L P now owns 1,872,326 shares of the pipeline company’s stock worth $32,953,000 after acquiring an additional 72,270 shares during the last quarter. 33.67% of the stock is owned by hedge funds and other institutional investors.

NYSE ENLC opened at $14.10 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $2,550.45, a price-to-earnings ratio of 352.50 and a beta of 2.46. EnLink Midstream has a 52-week low of $13.80 and a 52-week high of $20.00.

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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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