EnLink Midstream (ENLC) closed at $10.04 in the latest trading session, marking no change from the prior day. This move lagged the S&P 500's daily gain of 0.69%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Heading into today, shares of the natural gas company had lost 4.38% over the past month, lagging the Oils-Energy sector's loss of 0.21% and outpacing the S&P 500's loss of 9.94% in that time.
Investors will be hoping for strength from EnLink Midstream as it approaches its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $1.87 billion, up 4.39% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.41 per share and revenue of $8.75 billion, which would represent changes of +720% and +30.95%, respectively, from the prior year.
Any recent changes to analyst estimates for EnLink Midstream should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.07% higher. EnLink Midstream is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that EnLink Midstream has a Forward P/E ratio of 24.49 right now. Its industry sports an average Forward P/E of 5.33, so we one might conclude that EnLink Midstream is trading at a premium comparatively.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 8, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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EnLink Midstream, LLC (ENLC): Free Stock Analysis Report
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