Zacks: Brokerages Expect EnLink Midstream LLC (ENLC) to Post $0.05 EPS

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Equities research analysts expect EnLink Midstream LLC (NYSE:ENLC) to report $0.05 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for EnLink Midstream’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at $0.01. EnLink Midstream reported earnings per share of $0.07 during the same quarter last year, which would indicate a negative year over year growth rate of 28.6%. The company is expected to issue its next earnings report on Tuesday, May 7th.

On average, analysts expect that EnLink Midstream will report full year earnings of $0.31 per share for the current year, with EPS estimates ranging from $0.14 to $0.68. For the next financial year, analysts expect that the business will post earnings of $0.46 per share, with EPS estimates ranging from $0.29 to $0.95. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow EnLink Midstream.

EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, February 19th. The pipeline company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.51). The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.12 billion. EnLink Midstream had a negative net margin of 0.17% and a negative return on equity of 0.25%.

Several research firms recently issued reports on ENLC. Barclays began coverage on shares of EnLink Midstream in a report on Friday. They issued an “equal weight” rating and a $14.00 target price on the stock. Zacks Investment Research downgraded shares of EnLink Midstream from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup began coverage on shares of EnLink Midstream in a research note on Tuesday, March 12th. They issued a “buy” rating and a $13.00 price target for the company. Mitsubishi UFJ Financial Group raised shares of EnLink Midstream from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 20th. Finally, Stifel Nicolaus began coverage on shares of EnLink Midstream in a research note on Friday, February 8th. They issued a “buy” rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $16.29.

ENLC stock traded down $0.16 during midday trading on Friday, hitting $12.03. The stock had a trading volume of 1,742,727 shares, compared to its average volume of 3,162,116. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -171.86, a PEG ratio of 9.73 and a beta of 2.27. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.81. EnLink Midstream has a 1-year low of $8.90 and a 1-year high of $18.40.

In related news, major shareholder Goldman Sachs Group Inc purchased 24,791 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was purchased at an average cost of $10.86 per share, with a total value of $269,230.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.45% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its position in shares of EnLink Midstream by 15.7% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 5,908,479 shares of the pipeline company’s stock worth $56,071,000 after acquiring an additional 801,913 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of EnLink Midstream by 10.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,314,300 shares of the pipeline company’s stock worth $40,943,000 after acquiring an additional 395,089 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of EnLink Midstream by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 3,494,721 shares of the pipeline company’s stock worth $33,165,000 after acquiring an additional 24,653 shares in the last quarter. Citigroup Inc. increased its position in shares of EnLink Midstream by 37.7% during the fourth quarter. Citigroup Inc. now owns 2,392,627 shares of the pipeline company’s stock worth $22,705,000 after acquiring an additional 655,275 shares in the last quarter. Finally, Eagle Global Advisors LLC increased its position in shares of EnLink Midstream by 10.0% during the fourth quarter. Eagle Global Advisors LLC now owns 1,425,211 shares of the pipeline company’s stock worth $13,525,000 after acquiring an additional 129,709 shares in the last quarter. 33.57% of the stock is owned by institutional investors.

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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