Analysts Anticipate EnLink Midstream LLC (ENLC) Will Post Earnings of $0.12 Per Share
Analysts predict that EnLink Midstream LLC (NYSE:ENLC) will post earnings per share (EPS) of $0.12 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for EnLink Midstream’s earnings, with estimates ranging from ($0.04) to $0.25. EnLink Midstream reported earnings of $0.03 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 300%. The business is expected to report its next quarterly earnings report on Tuesday, October 30th.
On average, analysts expect that EnLink Midstream will report full year earnings of $0.45 per share for the current fiscal year, with EPS estimates ranging from $0.07 to $0.85. For the next fiscal year, analysts anticipate that the business will report earnings of $0.45 per share, with EPS estimates ranging from ($0.39) to $1.04. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.15 earnings per share (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 net margin of 3.73% and a return on equity of 0.86%. The company’s revenue was up 39.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share.
Shares of NYSE:ENLC traded up $0.35 during mid-day trading on Friday, reaching $16.95. 4,821 shares of the company traded hands, compared to its average volume of 325,815. The company has a market cap of $3.05 billion, a PE ratio of -338.00 and a beta of 2.63. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. EnLink Midstream has a 52 week low of $13.80 and a 52 week high of $20.00.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Monday, July 30th were paid a $0.267 dividend. This represents a $1.07 annualized dividend and a yield of 6.30%. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, July 27th. EnLink Midstream’s dividend payout ratio is presently -2,140.00%.
In other EnLink Midstream news, EVP Alaina K. Brooks sold 48,442 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 78,190 shares in the company, valued at approximately $1,357,378.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.24% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Tortoise Index Solutions LLC raised its holdings in shares of EnLink Midstream by 11.5% during the 2nd quarter. Tortoise Index Solutions LLC now owns 33,249 shares of the pipeline company’s stock worth $547,000 after acquiring an additional 3,425 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of EnLink Midstream by 4.9% during the 1st quarter. Wells Fargo & Company MN now owns 80,712 shares of the pipeline company’s stock worth $1,182,000 after acquiring an additional 3,748 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of EnLink Midstream by 110.1% during the 1st quarter. Russell Investments Group Ltd. now owns 7,934 shares of the pipeline company’s stock worth $116,000 after acquiring an additional 4,157 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of EnLink Midstream by 21.5% during the 2nd quarter. Stephens Inc. AR now owns 28,179 shares of the pipeline company’s stock worth $464,000 after acquiring an additional 4,982 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of EnLink Midstream by 4.9% during the 1st quarter. Swiss National Bank now owns 110,123 shares of the pipeline company’s stock worth $1,613,000 after acquiring an additional 5,100 shares in the last quarter. Institutional investors and hedge funds own 32.40% of the company’s stock.
About EnLink Midstream
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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