Brokerages forecast that EnLink Midstream, LLC (NYSE:ENLC – Get Rating) will post $1.71 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for EnLink Midstream’s earnings, with the highest sales estimate coming in at $1.77 billion and the lowest estimate coming in at $1.65 billion. EnLink Midstream reported sales of $1.41 billion in the same quarter last year, which would suggest a positive year over year growth rate of 21.3%. The company is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that EnLink Midstream will report full-year sales of $7.74 billion for the current financial year, with estimates ranging from $7.37 billion to $8.11 billion. For the next fiscal year, analysts forecast that the business will report sales of $8.20 billion, with estimates ranging from $7.08 billion to $9.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover EnLink Midstream.
Several equities research analysts have recently weighed in on the company. Raymond James increased their price target on EnLink Midstream from $11.00 to $12.00 in a research note on Wednesday, May 4th. Mizuho upped their target price on EnLink Midstream from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, May 27th. Credit Suisse Group upped their target price on EnLink Midstream from $6.50 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, April 19th. Zacks Investment Research upgraded EnLink Midstream from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Thursday, April 21st. Finally, StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a research report on Tuesday, May 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.43.
Shares of ENLC stock opened at $11.30 on Thursday. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 80.71 and a beta of 2.75. The stock has a 50-day moving average of $10.35 and a 200-day moving average of $8.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.48. EnLink Midstream has a 1-year low of $4.78 and a 1-year high of $11.85.
The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were given a $0.112 dividend. This represents a $0.45 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Thursday, April 28th. EnLink Midstream’s dividend payout ratio (DPR) is presently 321.43%.
Several hedge funds and other institutional investors have recently made changes to their positions in ENLC. Rational Advisors LLC grew its position in shares of EnLink Midstream by 105.8% in the fourth quarter. Rational Advisors LLC now owns 3,690 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 1,897 shares in the last quarter. Spire Wealth Management purchased a new position in shares of EnLink Midstream in the fourth quarter valued at $41,000. Ulland Investment Advisors LLC bought a new stake in EnLink Midstream during the fourth quarter valued at $41,000. First Horizon Advisors Inc. boosted its stake in EnLink Midstream by 85.7% during the first quarter. First Horizon Advisors Inc. now owns 5,143 shares of the pipeline company’s stock valued at $50,000 after buying an additional 2,374 shares during the period. Finally, Modera Wealth Management LLC bought a new stake in EnLink Midstream during the fourth quarter valued at $80,000. Institutional investors own 39.98% of the company’s stock.
About EnLink Midstream (Get Rating)
EnLink Midstream, LLC provides midstream energy services in the United States. It operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate 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 stabilizing, trans-loading , and condensate crude oil , as well as providing brine disposal services.
Source: Defenseworld.net
