Wall Street analysts expect EnLink Midstream LLC (NYSE:ENLC) to report sales of $1.79 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for EnLink Midstream’s earnings. The highest sales estimate is $1.90 billion and the lowest is $1.72 billion. EnLink Midstream reported sales of $2.11 billion in the same quarter last year, which indicates a negative year over year growth rate of 15.2%. The company is expected to issue its next earnings results on Tuesday, November 5th.
On average, analysts expect that EnLink Midstream will report full year sales of $7.06 billion for the current year, with estimates ranging from $6.78 billion to $7.33 billion. For the next fiscal year, analysts expect that the firm will post sales of $7.88 billion, with estimates ranging from $7.45 billion to $8.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). EnLink Midstream had a negative return on equity of 0.16% and a negative net margin of 3.21%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was down 3.1% on a year-over-year basis.
Shares of ENLC stock traded up $0.09 during trading on Thursday, hitting $7.54. 3,192,428 shares of the stock traded hands, compared to its average volume of 2,733,064. EnLink Midstream has a 52-week low of $7.14 and a 52-week high of $17.65. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s fifty day moving average price is $9.56 and its 200-day moving average price is $10.86. The firm has a market capitalization of $3.62 billion, a P/E ratio of -107.71, a price-to-earnings-growth ratio of 6.21 and a beta of 2.00.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Monday, July 29th were given a dividend of $0.283 per share. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. This represents a $1.13 annualized dividend and a yield of 15.01%. The ex-dividend date was Friday, July 26th. EnLink Midstream’s dividend payout ratio is presently -1,614.29%.
In other EnLink Midstream news, Chairman Barry E. Davis purchased 136,700 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $7.32 per share, for a total transaction of $1,000,644.00. Following the completion of the transaction, the chairman now directly owns 1,892,372 shares of the company’s stock, valued at $13,852,163.04. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Kyle D. Vann purchased 20,000 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $7.44 per share, for a total transaction of $148,800.00. Following the completion of the transaction, the director now directly owns 99,907 shares of the company’s stock, valued at $743,308.08. The disclosure for this purchase can be found here. Corporate insiders own 1.45% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ENLC. Avestar Capital LLC purchased a new position in shares of EnLink Midstream in the 1st quarter valued at $28,000. Patriot Financial Group Insurance Agency LLC bought a new stake in EnLink Midstream in the 1st quarter valued at about $31,000. Arlington Partners LLC bought a new stake in EnLink Midstream in the 2nd quarter valued at about $30,000. Triangle Securities Wealth Management bought a new stake in EnLink Midstream in the 1st quarter valued at about $362,000. Finally, Cullen Frost Bankers Inc. bought a new stake in EnLink Midstream in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 48.92% of the company’s stock.
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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