EnLink Midstream (ENLC) Gains As Market Dips: What You Should Know
EnLink Midstream (ENLC) closed the most recent trading day at $9.60, moving +1.8% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.65%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the natural gas company had lost 9.15% in the past month. In that same time, the Oils-Energy sector lost 2.93%, while the S&P 500 lost 11.07%.
Investors will be hoping for strength from EnLink Midstream as it approaches its next earnings release. Our most recent consensus estimate is calling for quarterly revenue of $1.87 billion, up 4.39% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.43 per share and revenue of $8.75 billion. These totals would mark changes of +760% and +30.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for EnLink Midstream. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.37% higher. EnLink Midstream is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note EnLink Midstream's current valuation metrics, including its Forward P/E ratio of 21.83. This represents a premium compared to its industry's average Forward P/E of 5.59.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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