EnLink Midstream LLC is among the top players in the transmission, processing, and marketing of natural gas and crude oil. The company operates across five segments: Permian, Louisiana, Oklahoma, North Texas, and Corporate. EnLink Midstream has been garnering the attention of investors lately with its earnings reports, particularly from its report released on May 2nd.
According to the filings submitted by American Century Companies Inc. with the Securities and Exchange Commission (SEC), there was a drop of 6.4% in its holdings in EnLink Midstream during Q4 of 2020. American Century Companies Inc. owned 1,362,947 shares of EnLink Midstream worth $16,764,000 at the time of filing with SEC.
The last earnings report from EnLink Midstream released on May 2nd showed quarterly earnings per share (EPS) that met analysts’ consensus estimates for EPS at $0.12 per share. While revenue for this quarter came out to be $1.77 billion compared to an analyst’s prediction of $2.17 billion.
Despite falling short on revenue by around $400 million, EnLink Midstream continues to be optimistic about posting an EPS of $0.53 for the current year as per research analyst predictions.
EnLink Midstream remains a reliable name in natural gas and crude oil transmission and processing services as it provides its services across key regions such as Permian Basin in West Texas and Eastern New Mexico as well as South Texas.
With extensive research backing up Enlink’s position within this market segment alongside positive earnings reports expected by investment professionals due to continued growth expectations moving forward; investors will continue watching closely for any significant changes in reported financial results or market trends despite the aforementioned effects from declining revenue figures which will bring about fluctuating investor interest over time when evaluating opportunities available against existing competition encountered within their respective domains moving into upcoming months ahead following these recent trends.
EnLink Midstream Sees Institutional Investors Buying and Selling Shares in Market
EnLink Midstream LLC (ENLC), a leading natural gas and crude oil transmission, processing, and marketing company has recently seen a slew of institutional investors buying and selling its shares in the market. According to reports, Dimensional Fund Advisors LP increased its position in the pipeline company by 7.1% during Q1 while Goldman Sachs Group Inc. ramped up its position by 63.8% in Q2. EnLink’s share price opened at $10.69 on Thursday with a market capitalization of $4.98 billion and a beta of 2.54.
The company operates through five segments- Permian, Louisiana, Oklahoma, North Texas, and Corporate- with the Permian segment focusing on operations in West Texas and Eastern New Mexico where it engages in natural gas gathering, processing, transmission activities as well as crude oil operations.
Despite reports indicating a slowdown in natural gas production across the US energy sector over recent years following an oversupply that led to low prices which subsequently caused companies such as Chesapeake Energy to cut back on drilling activities, EnLink Midstream revealed last month that it aims to increase spending significantly this year due to an increase in demand for midstream services from drillers across various shale basins.
Meanwhile, data suggests EnLink’s payout ratio stands at 63.29%. In addition to this figure being above the Oil & Gas Pipelines industry average of less than 25%, ENLC also offers investors an annualized dividend yield of 4.68%.
Accordingly, several analysts have weighed in with opinions on ENLC stock recently; Citigroup upgraded EnLink Midstream from “neutral” rating to “buy” rating last March while StockNews.com initiated coverage on EnLink Midstream with a “hold” rating earlier this May.
Overall sentiment among analysts remains cautiously optimistic with two rating the stock as ‘hold’, four rating it as ‘buy,’ while it boasts of an average price target of $14.60 according to data from Bloomberg.