Equities research analysts expect that EnLink Midstream LLC (NYSE:ENLC) will announce earnings of $0.04 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for EnLink Midstream’s earnings, with estimates ranging from $0.01 to $0.08. EnLink Midstream reported earnings per share of $0.07 in the same quarter last year, which would indicate a negative year over year growth rate of 42.9%. The company is expected to issue its next earnings report after the market closes on Tuesday, April 30th.
According to Zacks, analysts expect that EnLink Midstream will report full year earnings of $0.25 per share for the current financial year, with EPS estimates ranging from $0.07 to $0.42. For the next financial year, analysts anticipate that the company will report earnings of $0.36 per share, with EPS estimates ranging from $0.13 to $0.56. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, February 19th. The pipeline company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.51). EnLink Midstream had a negative return on equity of 0.25% and a negative net margin of 0.17%. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.12 billion.
ENLC stock traded down $0.17 during midday trading on Friday, hitting $12.10. The company’s stock had a trading volume of 1,902,662 shares, compared to its average volume of 2,832,201. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.81. EnLink Midstream has a twelve month low of $8.90 and a twelve month high of $18.40. The firm has a market capitalization of $5.89 billion, a P/E ratio of -172.86, a PEG ratio of 11.12 and a beta of 2.29.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Monday, April 29th will be paid a $0.279 dividend. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a yield of 9.22%. The ex-dividend date of this dividend is Friday, April 26th. EnLink Midstream’s payout ratio is presently -1,571.43%.
In other news, major shareholder Goldman Sachs Group Inc acquired 24,791 shares of the stock in a transaction dated Friday, February 1st. The shares were bought at an average cost of $10.86 per share, for a total transaction of $269,230.26. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.45% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP increased its stake in shares of EnLink Midstream by 229.9% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 906,700 shares of the pipeline company’s stock worth $8,596,000 after purchasing an additional 631,900 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of EnLink Midstream during the 1st quarter worth about $13,717,000. Hodges Capital Management Inc. boosted its holdings in shares of EnLink Midstream by 37.3% during the 1st quarter. Hodges Capital Management Inc. now owns 374,106 shares of the pipeline company’s stock worth $4,781,000 after buying an additional 101,642 shares during the period. Tortoise Index Solutions LLC boosted its holdings in shares of EnLink Midstream by 98.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 70,297 shares of the pipeline company’s stock worth $667,000 after buying an additional 34,957 shares during the period. Finally, Triangle Securities Wealth Management bought a new stake in shares of EnLink Midstream during the 1st quarter worth about $362,000. Institutional investors own 33.57% of the company’s stock.
EnLink Midstream Company Profile
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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