EnLink Midstream LLC (NYSE:ENLC) Expected to Post Q4 2019 Earnings of $0.08 Per Share

EnLink Midstream LLC (NYSE:ENLC) – Analysts at US Capital Advisors decreased their Q4 2019 earnings per share estimates for shares of EnLink Midstream in a research report issued on Tuesday, October 15th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $0.08 per share for the quarter, down from their previous forecast of $0.09. US Capital Advisors also issued estimates for EnLink Midstream’s Q1 2020 earnings at $0.06 EPS, Q2 2020 earnings at $0.06 EPS, Q3 2020 earnings at $0.06 EPS, Q4 2020 earnings at $0.06 EPS and FY2020 earnings at $0.23 EPS.

Other equities analysts also recently issued research reports about the stock. Mitsubishi UFJ Financial Group downgraded shares of EnLink Midstream from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $10.00 in a research note on Wednesday, August 7th. Robert W. Baird dropped their price objective on shares of EnLink Midstream from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Jefferies Financial Group raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and dropped their price objective for the company from $13.00 to $12.00 in a research note on Monday, July 15th. ValuEngine raised shares of EnLink Midstream from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays reissued a “hold” rating and issued a $12.00 price objective on shares of EnLink Midstream in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. EnLink Midstream has an average rating of “Hold” and an average price target of $10.95.

Shares of NYSE:ENLC opened at $7.22 on Wednesday. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -103.14, a PEG ratio of 5.94 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $8.00 and a 200 day simple moving average of $9.86. EnLink Midstream has a one year low of $7.03 and a one year high of $16.48.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.85 billion. EnLink Midstream had a negative net margin of 3.21% and a negative return on equity of 0.16%. EnLink Midstream’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS.

In other EnLink Midstream news, Director Kyle D. Vann purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $7.44 per share, with a total value of $148,800.00. Following the completion of the purchase, the director now owns 99,907 shares of the company’s stock, valued at $743,308.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Barry E. Davis purchased 136,700 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $7.32 per share, with a total value of $1,000,644.00. Following the purchase, the chairman now directly owns 1,892,372 shares of the company’s stock, valued at approximately $13,852,163.04. The disclosure for this purchase can be found here. 1.45% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its position in shares of EnLink Midstream by 4.0% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 32,817,606 shares of the pipeline company’s stock worth $331,130,000 after buying an additional 1,265,503 shares during the period. Chickasaw Capital Management LLC increased its position in shares of EnLink Midstream by 4.5% during the second quarter. Chickasaw Capital Management LLC now owns 23,543,728 shares of the pipeline company’s stock worth $237,556,000 after buying an additional 1,012,917 shares during the period. Brookfield Asset Management Inc. increased its position in shares of EnLink Midstream by 20.4% during the second quarter. Brookfield Asset Management Inc. now owns 17,233,683 shares of the pipeline company’s stock worth $173,887,000 after buying an additional 2,919,413 shares during the period. Invesco Ltd. increased its position in shares of EnLink Midstream by 21,575.0% during the second quarter. Invesco Ltd. now owns 13,994,487 shares of the pipeline company’s stock worth $141,204,000 after buying an additional 13,929,922 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of EnLink Midstream by 21,064.4% during the first quarter. Clearbridge Investments LLC now owns 10,697,359 shares of the pipeline company’s stock worth $136,712,000 after buying an additional 10,646,815 shares during the period. Institutional investors own 47.28% 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.

Featured Story: Ex-Dividend

Earnings History and Estimates for EnLink Midstream (NYSE:ENLC)

Receive News & Ratings for EnLink Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream and related companies with MarketBeat.com's FREE daily email newsletter.