Brokerages Anticipate EnLink Midstream LLC (NYSE:ENLC) to Post $0.06 EPS

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Brokerages expect EnLink Midstream LLC (NYSE:ENLC) to announce earnings of $0.06 per share for the current quarter, according to Zacks. Three analysts have provided estimates for EnLink Midstream’s earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.10. EnLink Midstream reported earnings of ($0.34) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 117.6%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that EnLink Midstream will report full year earnings of ($0.35) per share for the current year. For the next fiscal year, analysts expect that the firm will post earnings of $0.24 per share, with EPS estimates ranging from $0.11 to $0.44. Zacks’ EPS calculations are an average based on a survey of research analysts that cover EnLink Midstream.

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

Several equities research analysts have commented on ENLC shares. Barclays reiterated a “neutral” rating on shares of EnLink Midstream in a research note on Wednesday, November 20th. Royal Bank of Canada restated a “buy” rating and issued a $12.00 target price on shares of EnLink Midstream in a research report on Sunday, August 11th. Credit Suisse Group downgraded EnLink Midstream from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $13.50 to $8.00 in a research note on Monday, August 19th. Mitsubishi UFJ Financial Group downgraded EnLink Midstream from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $10.00 in a research report on Wednesday, August 7th. Finally, Robert W. Baird decreased their price target on shares of EnLink Midstream from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.59.

In other news, Director Kyle D. Vann acquired 10,000 shares of EnLink Midstream stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the director now directly owns 124,907 shares in the company, valued at $608,297.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.45% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ENLC. CWM Advisors LLC increased its position in EnLink Midstream by 34.9% during the 2nd quarter. CWM Advisors LLC now owns 17,160 shares of the pipeline company’s stock worth $173,000 after purchasing an additional 4,440 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of EnLink Midstream in the 2nd quarter valued at $114,000. Chicago Partners Investment Group LLC raised its position in EnLink Midstream by 2.0% in the second quarter. Chicago Partners Investment Group LLC now owns 142,735 shares of the pipeline company’s stock valued at $1,467,000 after purchasing an additional 2,745 shares during the period. Creative Planning lifted its stake in shares of EnLink Midstream by 14.2% during the second quarter. Creative Planning now owns 16,675 shares of the pipeline company’s stock worth $168,000 after purchasing an additional 2,069 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of EnLink Midstream during the second quarter worth about $624,000. 46.82% of the stock is owned by institutional investors.

EnLink Midstream stock traded up $0.02 during midday trading on Friday, reaching $4.41. The company had a trading volume of 159,147 shares, compared to its average volume of 3,725,719. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.95 and a quick ratio of 0.95. EnLink Midstream has a 12-month low of $4.33 and a 12-month high of $13.10. The company has a market capitalization of $2.32 billion, a P/E ratio of -63.64, a P/E/G ratio of 4.85 and a beta of 1.95. The firm’s fifty day simple moving average is $5.88 and its 200-day simple moving average is $8.37.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Monday, October 28th were issued a dividend of $0.283 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.13 annualized dividend and a yield of 25.67%. EnLink Midstream’s dividend payout ratio is currently -1,614.29%.

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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