$2.05 Billion in Sales Expected for EnLink Midstream Partners LP (ENLK) This Quarter
Equities research analysts predict that EnLink Midstream Partners LP (NYSE:ENLK) will post sales of $2.05 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for EnLink Midstream Partners’ earnings, with the highest sales estimate coming in at $2.07 billion and the lowest estimate coming in at $2.04 billion. EnLink Midstream Partners posted sales of $1.40 billion during the same quarter last year, which would indicate a positive year over year growth rate of 46.4%. The firm is expected to report its next quarterly earnings report on Tuesday, October 30th.
On average, analysts expect that EnLink Midstream Partners will report full year sales of $7.59 billion for the current fiscal year, with estimates ranging from $7.17 billion to $7.76 billion. For the next year, analysts forecast that the firm will post sales of $8.50 billion per share, with estimates ranging from $7.60 billion to $9.06 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for EnLink Midstream Partners.
EnLink Midstream Partners (NYSE:ENLK) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas producer reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.09. EnLink Midstream Partners had a return on equity of 6.41% and a net margin of 3.89%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 39.7% on a year-over-year basis.
Shares of NYSE:ENLK opened at $18.20 on Tuesday. EnLink Midstream Partners has a 52-week low of $12.75 and a 52-week high of $19.45. The company has a market capitalization of $6.59 billion, a P/E ratio of 606.67 and a beta of 2.29. The company has a current ratio of 0.72, a quick ratio of 0.64 and a debt-to-equity ratio of 1.05.
In other EnLink Midstream Partners news, EVP Alaina K. Brooks sold 55,619 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $17.65, for a total transaction of $981,675.35. Following the sale, the executive vice president now owns 80,648 shares of the company’s stock, valued at approximately $1,423,437.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Goldman Sachs Group Inc bought 91,538 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were bought at an average cost of $18.52 per share, for a total transaction of $1,695,283.76. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ENLK. Wells Fargo & Company MN boosted its position in EnLink Midstream Partners by 38.4% during the 1st quarter. Wells Fargo & Company MN now owns 162,414 shares of the oil and gas producer’s stock valued at $2,218,000 after acquiring an additional 45,094 shares in the last quarter. SG Americas Securities LLC bought a new stake in EnLink Midstream Partners during the 1st quarter valued at $1,304,000. Kayne Anderson Capital Advisors LP boosted its position in EnLink Midstream Partners by 4.0% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 4,894,608 shares of the oil and gas producer’s stock valued at $66,860,000 after acquiring an additional 187,200 shares in the last quarter. BlackRock Inc. boosted its position in EnLink Midstream Partners by 0.8% during the 1st quarter. BlackRock Inc. now owns 526,761 shares of the oil and gas producer’s stock valued at $7,196,000 after acquiring an additional 4,074 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in EnLink Midstream Partners by 23.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 46,056 shares of the oil and gas producer’s stock valued at $629,000 after acquiring an additional 8,867 shares in the last quarter. 41.27% of the stock is currently owned by institutional investors and hedge funds.
About EnLink Midstream Partners
EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.
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