$1.71 Billion in Sales Expected for EnLink Midstream, LLC (NYSE:ENLC) This Quarter

Equities analysts forecast that EnLink Midstream, LLC (NYSE:ENLC – Get Rating) will post $1.71 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for EnLink Midstream’s earnings, with the highest sales estimate coming in at $1.77 billion and the lowest estimate coming in at $1.65 billion. EnLink Midstream reported sales of $1.41 billion during the same quarter last year, which would suggest a positive year over year growth rate of 21.3%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that EnLink Midstream will report full year sales of $7.74 billion for the current fiscal year, with estimates ranging from $7.37 billion to $8.11 billion. For the next year, analysts anticipate that the business will report sales of $8.20 billion, with estimates ranging from $7.08 billion to $9.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover EnLink Midstream.

EnLink Midstream (NYSE:ENLC – Get Rating) last posted its quarterly earnings results on Tuesday, February 15th. The pipeline company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $1.88 billion. EnLink Midstream had a net margin of 0.92% and a return on equity of 2.33%. During the same period last year, the company posted $0.03 earnings per share.

Several research firms recently commented on ENLC. Morgan Stanley raised their price target on shares of EnLink Midstream from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Zacks Investment Research upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, April 21st. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday. Raymond James boosted their target price on EnLink Midstream from $11.00 to $12.00 in a report on Wednesday, May 4th. Finally, Credit Suisse Group lifted their target price on shares of EnLink Midstream from $6.50 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, April 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, EnLink Midstream currently has a consensus rating of “Hold” and an average target price of $10.29.

ENLC stock opened at $10.13 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $4.90 billion, a P/E ratio of 72.36 and a beta of 2.75. The firm has a 50 day simple moving average of $9.80 and a 200 day simple moving average of $8.38. EnLink Midstream has a 52 week low of $4.69 and a 52 week high of $11.27.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were issued a $0.112 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Thursday, April 28th. EnLink Midstream’s dividend payout ratio (DPR) is currently 321.43%.

In other EnLink Midstream news, Director Kyle D. Vann sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $8.26, for a total value of $82,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of EnLink Midstream by 22.1% during the 1st quarter. Royal Bank of Canada now owns 270,563 shares of the pipeline company’s stock worth $2,611,000 after purchasing an additional 49,013 shares in the last quarter. Donoghue Forlines LLC grew its holdings in shares of EnLink Midstream by 13.2% during the 1st quarter. Donoghue Forlines LLC now owns 85,196 shares of the pipeline company’s stock worth $822,000 after purchasing an additional 9,911 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of EnLink Midstream by 41.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,231,128 shares of the pipeline company’s stock worth $40,831,000 after purchasing an additional 1,232,842 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of EnLink Midstream by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 684,367 shares of the pipeline company’s stock worth $6,604,000 after purchasing an additional 7,524 shares in the last quarter. Finally, Engineers Gate Manager LP grew its holdings in shares of EnLink Midstream by 189.6% during the 1st quarter. Engineers Gate Manager LP now owns 74,876 shares of the pipeline company’s stock worth $723,000 after purchasing an additional 49,023 shares in the last quarter. 39.98% of the stock is currently owned by institutional investors.

About EnLink Midstream (Get Rating)

EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate 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 stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.

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