Mitsubishi UFJ Financial Group Brokers Increase Earnings Estimates for EnLink Midstream Partners LP (ENLK)

EnLink Midstream Partners LP (NYSE:ENLK) – Equities research analysts at Mitsubishi UFJ Financial Group upped their Q4 2018 earnings per share estimates for shares of EnLink Midstream Partners in a research report issued on Wednesday, November 7th. Mitsubishi UFJ Financial Group analyst B. Blaschke now anticipates that the oil and gas producer will post earnings per share of $0.09 for the quarter, up from their prior estimate of $0.08.

EnLink Midstream Partners (NYSE:ENLK) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.06). EnLink Midstream Partners had a return on equity of 8.21% and a net margin of 3.76%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned ($0.02) earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year.

A number of other brokerages have also issued reports on ENLK. ValuEngine raised EnLink Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Credit Suisse Group assumed coverage on EnLink Midstream Partners in a report on Thursday, October 11th. They issued an “underperform” rating and a $17.00 price objective for the company. Zacks Investment Research raised EnLink Midstream Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, September 26th. Citigroup lowered EnLink Midstream Partners from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $18.00 to $19.00 in a report on Wednesday, October 17th. They noted that the move was a valuation call. Finally, Barclays increased their price target on EnLink Midstream Partners from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.36.

Shares of ENLK stock opened at $13.82 on Friday. EnLink Midstream Partners has a 12-month low of $12.75 and a 12-month high of $19.45. The company has a market capitalization of $5.13 billion, a P/E ratio of 460.67 and a beta of 2.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.72 and a quick ratio of 0.64.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Monday, October 29th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 11.29%. The ex-dividend date is Friday, October 26th. EnLink Midstream Partners’s payout ratio is currently 5,200.00%.

In related news, major shareholder Goldman Sachs Group Inc acquired 91,538 shares of EnLink Midstream Partners stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average cost of $18.52 per share, with a total value of $1,695,283.76. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its holdings in shares of EnLink Midstream Partners by 79.0% in the third quarter. Ballentine Partners LLC now owns 98,132 shares of the oil and gas producer’s stock valued at $1,829,000 after purchasing an additional 43,309 shares in the last quarter. Perella Weinberg Partners Capital Management LP lifted its holdings in shares of EnLink Midstream Partners by 290.6% in the third quarter. Perella Weinberg Partners Capital Management LP now owns 270,477 shares of the oil and gas producer’s stock valued at $5,109,000 after purchasing an additional 201,224 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of EnLink Midstream Partners in the second quarter valued at $31,271,000. Chickasaw Capital Management LLC lifted its holdings in shares of EnLink Midstream Partners by 11.4% in the second quarter. Chickasaw Capital Management LLC now owns 7,166,906 shares of the oil and gas producer’s stock valued at $111,302,000 after purchasing an additional 735,595 shares in the last quarter. Finally, Cadence Capital Management LLC purchased a new stake in shares of EnLink Midstream Partners in the second quarter valued at $2,825,000. Institutional investors own 41.67% of the company’s stock.

EnLink Midstream Partners Company Profile

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.

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Earnings History and Estimates for EnLink Midstream Partners (NYSE:ENLK)

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