EnLink Midstream (ENLC) Gains As Market Dips: What You Should Know
EnLink Midstream (ENLC) closed at $11.51 in the latest trading session, marking a +0.96% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.74%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the natural gas company had gained 36.2% over the past month, outpacing the Oils-Energy sector's gain of 16.17% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from EnLink Midstream as it approaches its next earnings release, which is expected to be November 1, 2022. Our most recent consensus estimate is calling for quarterly revenue of $2.06 billion, up 15.15% from the year-ago period.
ENLC's full-year Zacks Consensus Estimates are calling for earnings of $0.48 per share and revenue of $9.19 billion. These results would represent year-over-year changes of +860% and +37.4%, respectively.
It is also important to note the recent changes to analyst estimates for EnLink Midstream. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 16.1% higher within the past month. EnLink Midstream is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, EnLink Midstream is currently trading at a Forward P/E ratio of 23.95. For comparison, its industry has an average Forward P/E of 5.76, which means EnLink Midstream is trading at a premium to the group.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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