EnLink Midstream (ENLC) Expected to Post Earnings of $0.19 Per Share

Equities analysts expect EnLink Midstream (NYSE:ENLC) to announce $0.19 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for EnLink Midstream’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.08. EnLink Midstream posted earnings of $0.07 per share during the same quarter last year, which indicates a positive year over year growth rate of 171.4%. The business is expected to announce its next earnings report on Tuesday, August 7th.

According to Zacks, analysts expect that EnLink Midstream will report full-year earnings of $0.73 per share for the current year, with EPS estimates ranging from $0.35 to $1.41. For the next year, analysts anticipate that the business will report earnings of $0.87 per share, with EPS estimates ranging from $0.39 to $1.86. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover EnLink Midstream.

EnLink Midstream (NYSE:ENLC) last posted its earnings results on Tuesday, February 20th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.20). EnLink Midstream had a net margin of 3.68% and a return on equity of 0.62%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.44 billion.

Several equities analysts have issued reports on the company. Royal Bank of Canada upgraded EnLink Midstream from a “sector perform” rating to an “outperform” rating and cut their target price for the company from $22.00 to $20.00 in a research note on Thursday, May 3rd. Barclays dropped their price target on EnLink Midstream from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 17th. Guggenheim set a $16.00 price target on EnLink Midstream and gave the stock a “hold” rating in a research note on Monday, April 16th. Seaport Global Securities set a $14.00 price target on EnLink Midstream and gave the stock a “hold” rating in a research note on Monday, April 9th. Finally, JPMorgan Chase lowered EnLink Midstream from a “neutral” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research note on Wednesday, April 4th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.29.

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of EnLink Midstream by 13.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,173,164 shares of the pipeline company’s stock worth $46,487,000 after purchasing an additional 378,910 shares during the period. Cushing Asset Management LP lifted its holdings in shares of EnLink Midstream by 8.5% during the fourth quarter. Cushing Asset Management LP now owns 2,049,495 shares of the pipeline company’s stock worth $36,072,000 after purchasing an additional 161,196 shares during the period. HBK Investments L P lifted its holdings in shares of EnLink Midstream by 4.0% during the fourth quarter. HBK Investments L P now owns 1,872,326 shares of the pipeline company’s stock worth $32,953,000 after purchasing an additional 72,270 shares during the period. Citigroup Inc. lifted its holdings in shares of EnLink Midstream by 3.6% during the first quarter. Citigroup Inc. now owns 1,660,612 shares of the pipeline company’s stock worth $24,328,000 after purchasing an additional 57,449 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of EnLink Midstream by 231.1% during the fourth quarter. Millennium Management LLC now owns 1,071,226 shares of the pipeline company’s stock worth $18,854,000 after purchasing an additional 747,674 shares during the period. 33.94% of the stock is owned by hedge funds and other institutional investors.

EnLink Midstream opened at $16.55 on Wednesday, according to Marketbeat Ratings. EnLink Midstream has a 1 year low of $16.30 and a 1 year high of $16.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -331.00 and a beta of 2.47.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be issued a dividend of $0.263 per share. This is an increase from EnLink Midstream’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, April 27th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 6.36%. EnLink Midstream’s payout ratio is -2,100.00%.

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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