EnLink Midstream LLC (ENLC) Expected to Announce Quarterly Sales of $2.01 Billion
Analysts expect EnLink Midstream LLC (NYSE:ENLC) to post sales of $2.01 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for EnLink Midstream’s earnings, with the lowest sales estimate coming in at $1.67 billion and the highest estimate coming in at $2.51 billion. EnLink Midstream posted sales of $1.76 billion during the same quarter last year, which suggests a positive year over year growth rate of 14.2%. The business is expected to report its next earnings report after the market closes on Tuesday, April 30th.
According to Zacks, analysts expect that EnLink Midstream will report full year sales of $7.99 billion for the current year, with estimates ranging from $6.85 billion to $9.94 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.88 billion, with estimates ranging from $7.38 billion to $8.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow EnLink Midstream.
EnLink Midstream (NYSE:ENLC) last announced its earnings results on Tuesday, February 19th. The pipeline company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.51). EnLink Midstream had a negative return on equity of 0.25% and a negative net margin of 0.17%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.12 billion.
Shares of ENLC opened at $12.52 on Tuesday. EnLink Midstream has a fifty-two week low of $8.90 and a fifty-two week high of $18.40. The stock has a market cap of $6.04 billion, a PE ratio of -178.86, a price-to-earnings-growth ratio of 10.75 and a beta of 2.29. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.81 and a quick ratio of 0.81.
In other news, major shareholder Goldman Sachs Group Inc purchased 24,791 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.45% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Triangle Securities Wealth Management purchased a new position in EnLink Midstream during the first quarter worth about $362,000. Macquarie Group Ltd. raised its holdings in EnLink Midstream by 263.3% during the fourth quarter. Macquarie Group Ltd. now owns 4,000 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 2,899 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in EnLink Midstream during the fourth quarter worth about $48,000. Parkwood LLC purchased a new position in EnLink Midstream during the fourth quarter worth about $102,000. Finally, Raymond James Trust N.A. purchased a new position in EnLink Midstream during the first quarter worth about $144,000. 33.57% of the stock is owned by hedge funds and other 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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