EnLink Midstream Partners LP (ENLK) Expected to Post Quarterly Sales of $2.28 Billion
Equities research analysts expect EnLink Midstream Partners LP (NYSE:ENLK) to announce $2.28 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for EnLink Midstream Partners’ earnings. The lowest sales estimate is $2.19 billion and the highest is $2.45 billion. EnLink Midstream Partners reported sales of $1.76 billion in the same quarter last year, which would suggest a positive year over year growth rate of 29.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that EnLink Midstream Partners will report full year sales of $7.85 billion for the current fiscal year, with estimates ranging from $7.71 billion to $8.09 billion. For the next financial year, analysts anticipate that the business will post sales of $9.13 billion, with estimates ranging from $8.72 billion to $9.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for EnLink Midstream Partners.
EnLink Midstream Partners (NYSE:ENLK) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $0.06 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.06). EnLink Midstream Partners had a net margin of 3.76% and a return on equity of 8.27%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis.
Shares of ENLK opened at $13.02 on Friday. EnLink Midstream Partners has a one year low of $12.75 and a one year high of $19.45. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 434.00 and a beta of 2.13. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.74.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Monday, October 29th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, October 26th. This represents a $1.56 annualized dividend and a dividend yield of 11.98%. EnLink Midstream Partners’s dividend payout ratio is 5,200.00%.
In other EnLink Midstream Partners news, major shareholder Goldman Sachs Group Inc acquired 16,700 shares of EnLink Midstream Partners stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $18.26 per share, with a total value of $304,942.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.
Several institutional investors have recently modified their holdings of ENLK. BlackRock Inc. grew its stake in shares of EnLink Midstream Partners by 0.8% in the first quarter. BlackRock Inc. now owns 526,761 shares of the oil and gas producer’s stock worth $7,196,000 after purchasing an additional 4,074 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of EnLink Midstream Partners by 2.5% in the first quarter. Principal Financial Group Inc. now owns 4,152,195 shares of the oil and gas producer’s stock worth $56,719,000 after purchasing an additional 100,723 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of EnLink Midstream Partners in the second quarter worth $31,271,000. Ballentine Partners LLC grew its stake in shares of EnLink Midstream Partners by 87.0% in the second quarter. Ballentine Partners LLC now owns 54,823 shares of the oil and gas producer’s stock worth $851,000 after purchasing an additional 25,503 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in EnLink Midstream Partners during the second quarter valued at $1,048,000. 41.95% of the stock is currently owned by institutional investors.
About EnLink Midstream Partners
EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for EnLink Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EnLink Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.