EnLink Midstream (ENLC) closed at $9.94 in the latest trading session, marking a -0.8% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.71%. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the natural gas company had lost 8.41% in the past month. In that same time, the Oils-Energy sector lost 2.7%, while the S&P 500 lost 8.68%.
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 $0.41 per share and revenue of $8.75 billion. These totals would mark changes of +720% and +30.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for EnLink Midstream. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.07% higher within the past month. EnLink Midstream is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, EnLink Midstream currently has a Forward P/E ratio of 24.44. This valuation marks a premium compared to its industry's average Forward P/E of 5.38.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 7, putting it in the top 3% 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.
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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