EnLink Midstream (ENLC) Gains As Market Dips: What You Should Know
In the latest trading session, EnLink Midstream (ENLC) closed at $10.59, marking a +0.57% move from the previous day. This move outpaced the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.03%.
Coming into today, shares of the natural gas company had gained 5.94% in the past month. In that same time, the Oils-Energy sector gained 3.38%, while the S&P 500 lost 5.13%.
Investors will be hoping for strength from EnLink Midstream as it approaches its next earnings release, which is expected to be November 1, 2022. Meanwhile, our latest consensus estimate is calling for revenue of $1.87 billion, up 4.39% from the prior-year quarter.
ENLC's full-year Zacks Consensus Estimates are calling for earnings of $0.43 per share and revenue of $8.75 billion. These results would represent year-over-year changes of +760% and +30.95%, respectively.
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. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 5.37% higher. EnLink Midstream currently has 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 24.38 right now. This represents a premium compared to its industry's average Forward P/E of 5.63.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 2, which puts it in the top 1% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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EnLink Midstream, LLC (ENLC) : Free Stock Analysis Report
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