Wall Street analysts forecast that EnLink Midstream LLC (NYSE:ENLC) will announce sales of $1.83 billion for the current quarter, Zacks reports. Three analysts have issued estimates for EnLink Midstream’s earnings, with the highest sales estimate coming in at $2.10 billion and the lowest estimate coming in at $1.51 billion. EnLink Midstream reported sales of $1.76 billion in the same quarter last year, which indicates a positive year over year growth rate of 4%. The company is expected to issue its next earnings results after the market closes on Tuesday, August 6th.
On average, analysts expect that EnLink Midstream will report full-year sales of $7.44 billion for the current fiscal year, with estimates ranging from $6.78 billion to $8.24 billion. For the next fiscal year, analysts anticipate that the business will post sales of $8.21 billion, with estimates ranging from $7.45 billion to $9.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last released its earnings results on Tuesday, April 30th. The pipeline company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. EnLink Midstream had a negative net margin of 2.62% and a negative return on equity of 0.09%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm earned $0.06 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year.
Several large investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. lifted its position in shares of EnLink Midstream by 434.0% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 31,552,103 shares of the pipeline company’s stock worth $403,236,000 after purchasing an additional 25,643,624 shares during the period. Alps Advisors Inc. lifted its position in shares of EnLink Midstream by 12,208.4% in the 1st quarter. Alps Advisors Inc. now owns 24,648,082 shares of the pipeline company’s stock worth $315,002,000 after purchasing an additional 24,447,828 shares during the period. Chickasaw Capital Management LLC lifted its position in shares of EnLink Midstream by 4.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 23,543,728 shares of the pipeline company’s stock worth $237,556,000 after purchasing an additional 1,012,917 shares during the period. OppenheimerFunds Inc. lifted its position in shares of EnLink Midstream by 36,353.8% in the 1st quarter. OppenheimerFunds Inc. now owns 12,168,263 shares of the pipeline company’s stock worth $155,510,000 after purchasing an additional 12,134,883 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of EnLink Midstream by 21,064.4% in the 1st quarter. Clearbridge Investments LLC now owns 10,697,359 shares of the pipeline company’s stock worth $136,712,000 after purchasing an additional 10,646,815 shares during the period. 49.34% of the stock is owned by hedge funds and other institutional investors.
Shares of ENLC stock traded up $0.09 on Wednesday, hitting $10.28. 4,633,000 shares of the company’s stock traded hands, compared to its average volume of 2,549,006. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.88. EnLink Midstream has a one year low of $8.90 and a one year high of $18.00. The firm’s fifty day moving average is $10.21. The stock has a market cap of $4.96 billion, a PE ratio of -146.86, a price-to-earnings-growth ratio of 9.87 and a beta of 2.01.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Monday, July 29th will be issued a $0.283 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 11.01%. The ex-dividend date is Friday, July 26th. This is a positive change from EnLink Midstream’s previous quarterly dividend of $0.28. EnLink Midstream’s dividend payout ratio (DPR) is -1,600.00%.
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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