Q1 2018 Earnings Forecast for EnLink Midstream LLC (NYSE:ENLC) Issued By Jefferies Group

EnLink Midstream LLC (NYSE:ENLC) – Investment analysts at Jefferies Group lifted their Q1 2018 earnings per share estimates for EnLink Midstream in a research note issued to investors on Wednesday, according to Zacks Investment Research. Jefferies Group analyst C. Sighinolfi now anticipates that the pipeline company will earn $0.21 per share for the quarter, up from their previous forecast of $0.20. Jefferies Group has a “Hold” rating and a $16.00 price objective on the stock. Jefferies Group also issued estimates for EnLink Midstream’s Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.25 EPS, FY2019 earnings at $0.99 EPS, FY2020 earnings at $1.04 EPS and FY2021 earnings at $1.08 EPS.

Several other research firms also recently commented on ENLC. Credit Suisse Group began coverage on shares of EnLink Midstream in a report on Thursday, January 4th. They issued a “neutral” rating and a $19.00 price objective on the stock. Bank of America began coverage on shares of EnLink Midstream in a report on Tuesday. They issued a “neutral” rating on the stock. Robert W. Baird reiterated a “hold” rating and issued a $21.00 price objective on shares of EnLink Midstream in a report on Thursday, September 21st. BidaskClub downgraded shares of EnLink Midstream from a “hold” rating to a “sell” rating in a report on Saturday, September 30th. Finally, Seaport Global Securities began coverage on shares of EnLink Midstream in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $16.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. EnLink Midstream presently has an average rating of “Hold” and an average price target of $18.92.

EnLink Midstream (NYSE:ENLC) opened at $18.75 on Thursday. EnLink Midstream has a fifty-two week low of $15.00 and a fifty-two week high of $20.45. The company has a market cap of $3,410.00, a price-to-earnings ratio of 625.00 and a beta of 2.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85.

EnLink Midstream (NYSE:ENLC) last released its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11). EnLink Midstream had a net margin of 0.12% and a return on equity of 0.15%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. The company’s quarterly revenue was up 26.6% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its stake in shares of EnLink Midstream by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 16,519 shares of the pipeline company’s stock valued at $291,000 after acquiring an additional 109 shares in the last quarter. Northern Trust Corp grew its stake in shares of EnLink Midstream by 0.4% in the second quarter. Northern Trust Corp now owns 102,348 shares of the pipeline company’s stock valued at $1,802,000 after acquiring an additional 386 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of EnLink Midstream by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,684 shares of the pipeline company’s stock valued at $100,000 after acquiring an additional 599 shares in the last quarter. WFG Advisors LP grew its stake in EnLink Midstream by 11.5% during the second quarter. WFG Advisors LP now owns 9,201 shares of the pipeline company’s stock worth $162,000 after buying an additional 950 shares in the last quarter. Finally, Keybank National Association OH grew its stake in EnLink Midstream by 5.2% during the second quarter. Keybank National Association OH now owns 26,440 shares of the pipeline company’s stock worth $465,000 after buying an additional 1,310 shares in the last quarter. Institutional investors and hedge funds own 34.08% of the company’s stock.

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EnLink Midstream Company Profile

EnLink Midstream, LLC is an integrated midstream company. The Company’s assets consist of equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink Oklahoma Gas Processing, LP (EnLink Oklahoma T.O.). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers.

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